#Bitcoin Keltner Channels π
πBitcoin broke out of the baseline resistance, under which it consolidated for a long period.
βοΈWhile I don't expect a return below this gray line until the peak of the cycle, remember that it is almost 2 years away and we will have more than one correction before then.
π‘I expect especially volatility in the next six months when there are quite a lot of events related to BTC.
πBitcoin broke out of the baseline resistance, under which it consolidated for a long period.
βοΈWhile I don't expect a return below this gray line until the peak of the cycle, remember that it is almost 2 years away and we will have more than one correction before then.
π‘I expect especially volatility in the next six months when there are quite a lot of events related to BTC.
#Bitcoin Bollinger Band π
The volatility of the asset can be viewed relative to the width of the Bollinger lines, and it is also convenient to use the BBW oscillator for this.
βοΈWe have mainly 3 waves of increasing volatility before the main bull run. The first is mostly the bottom of the market, and the second or third is the midcycle peak. If one wave was quite large, the next one is mostly smaller, like in 2019.
π€In our case, the waves of volatility are more similar to 2016. I expect something in the middle between 2022 and 2023, so a possible stop somewhere around ~1.00.
π‘How does such a wave end? This is mainly a retest of the middle line π of the Bollinger bands, now it is 33k+, note that it is rising.
The volatility of the asset can be viewed relative to the width of the Bollinger lines, and it is also convenient to use the BBW oscillator for this.
βοΈWe have mainly 3 waves of increasing volatility before the main bull run. The first is mostly the bottom of the market, and the second or third is the midcycle peak. If one wave was quite large, the next one is mostly smaller, like in 2019.
π€In our case, the waves of volatility are more similar to 2016. I expect something in the middle between 2022 and 2023, so a possible stop somewhere around ~1.00.
π‘How does such a wave end? This is mainly a retest of the middle line π of the Bollinger bands, now it is 33k+, note that it is rising.
#Bitcoin Support trend channel.
I have already written about this indicator before. Now we continue to be in the bullish part of the channel, where the middle line is often a support in a bullish market and a resistance in a bearish one.
π€If you like the indicator, I can add it to the Feels subscription or make a raffle.
I have already written about this indicator before. Now we continue to be in the bullish part of the channel, where the middle line is often a support in a bullish market and a resistance in a bearish one.
π€If you like the indicator, I can add it to the Feels subscription or make a raffle.
#Bitcoin Gaussian Channel and ETF π
Will the adoption of #ETF be able to break the historical pattern?π€
In each cycle of bitcoin, the price before the halving could not overcome the 0.78 Fibonacci mark, which acted as resistance.
Now the price has again approached this historical resistance, which is about ~50k.
π‘In my opinion, we are unlikely to break through this mark, because the fundamental impact of the ETF on the price of BTC requires time, which, by the way, is not much left until the halving.
I think that's when we will feel the impact of these 2 fundamental events. Decrease in supply and increase in demandπ
Will the adoption of #ETF be able to break the historical pattern?π€
In each cycle of bitcoin, the price before the halving could not overcome the 0.78 Fibonacci mark, which acted as resistance.
Now the price has again approached this historical resistance, which is about ~50k.
π‘In my opinion, we are unlikely to break through this mark, because the fundamental impact of the ETF on the price of BTC requires time, which, by the way, is not much left until the halving.
I think that's when we will feel the impact of these 2 fundamental events. Decrease in supply and increase in demandπ
#Bitcoin Gaussian Channel π
While the majority on the joys of adopting ETF, drew forecasts of at least 60k, I said why it won't happen at least so soon.
Now, as in the previous cycles, the 0.78 (49k) zone acted as resistance, and Bitcoin went on a correction.
π‘I think that in the near future there will be consolidations with a possible retest of the lower parts of the Gaussian channel. Use this time for the last selection of assets, because there may not be more such corrections in the next 2 years.
While the majority on the joys of adopting ETF, drew forecasts of at least 60k, I said why it won't happen at least so soon.
Now, as in the previous cycles, the 0.78 (49k) zone acted as resistance, and Bitcoin went on a correction.
π‘I think that in the near future there will be consolidations with a possible retest of the lower parts of the Gaussian channel. Use this time for the last selection of assets, because there may not be more such corrections in the next 2 years.
#Bitcoin and RSI π
BTC has not had a healthy correction for about 3 months now. All this time, the price did not test the BMS or drop below 50 on the RSI.
What we see now is a bearish signal of a break below 50 and a retest from below. And also a break of the trend line and a retest from belowπ»
As I wrote earlier, the ETF will start to have an impact not immediately, but closer to halving, by this time we may have a correction to 37k, or if the power of buyers turn out to be stronger than I expected, consolidation in the area of 40k.
BTC has not had a healthy correction for about 3 months now. All this time, the price did not test the BMS or drop below 50 on the RSI.
What we see now is a bearish signal of a break below 50 and a retest from below. And also a break of the trend line and a retest from belowπ»
As I wrote earlier, the ETF will start to have an impact not immediately, but closer to halving, by this time we may have a correction to 37k, or if the power of buyers turn out to be stronger than I expected, consolidation in the area of 40k.
We continue to analyze #Bitcoin using the Gaussian channel (see previous posts) π
πBitcoin is consolidating in the region of 40k, following the correction from the resistance line that I mentioned earlier. I further believe that a retest of the 37k zone is possible since there is still enough time for halving.
On the wave trend oscillators, a red signal π΄ is also visible, after which the correction often begins, the only exception here is bullran at the end of the cycle.
π‘The situation is similar to the mid-cycle peak at the end of 2019, but now it happened much closer to the halving, so I would not expect such a prolonged downtrend, but only a 1-2 month correction.
πBitcoin is consolidating in the region of 40k, following the correction from the resistance line that I mentioned earlier. I further believe that a retest of the 37k zone is possible since there is still enough time for halving.
On the wave trend oscillators, a red signal π΄ is also visible, after which the correction often begins, the only exception here is bullran at the end of the cycle.
π‘The situation is similar to the mid-cycle peak at the end of 2019, but now it happened much closer to the halving, so I would not expect such a prolonged downtrend, but only a 1-2 month correction.
#Bitcoin corrections in 2024 π
There is not much time left for BTC to undergo a significant correction before the halving. Let me remind you that halving significantly reduces the liquidity for sale from miners βοΈ
In recent days, we have had positive inflows from BTC - ETF, which also puts pressure on the price in a positive direction. It should also be remembered that, in general, an increase in the global liquidity of central banks is forecast this year π¦
π‘In conclusion, this year will definitely be positive for BTC. Predicting a correction is quite a difficult task since many more positives should move the price higher than negatives.
πBasically, I think most technical corrections will be no more than 20-30% from the local peak and BMS retest.
There is not much time left for BTC to undergo a significant correction before the halving. Let me remind you that halving significantly reduces the liquidity for sale from miners βοΈ
In recent days, we have had positive inflows from BTC - ETF, which also puts pressure on the price in a positive direction. It should also be remembered that, in general, an increase in the global liquidity of central banks is forecast this year π¦
π‘In conclusion, this year will definitely be positive for BTC. Predicting a correction is quite a difficult task since many more positives should move the price higher than negatives.
πBasically, I think most technical corrections will be no more than 20-30% from the local peak and BMS retest.