Bitcoin price have broken the Valid Trend Line for 10W (80D) cycle. The 17,500 low of 26.06.2022 is very probable to be also a bottom for 20W.
However we still have 40W bottom cycle to be confirmed to start assuming that 17,5K might have been the major bottom.
Phasing analysis suggest the major bottom is still due but the answer will come within next 2 weeks.
We can assume anything by seeing how strong the price will be pulled down by downtrends of shorter bands like 10D 20D following days.
Stay sharp!
However we still have 40W bottom cycle to be confirmed to start assuming that 17,5K might have been the major bottom.
Phasing analysis suggest the major bottom is still due but the answer will come within next 2 weeks.
We can assume anything by seeing how strong the price will be pulled down by downtrends of shorter bands like 10D 20D following days.
Stay sharp!
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