were going to call bitcoin is already in near term bottom,
since inflation is starting to go down and gas prices is also
doing good from $7 to $4+
if things goes to plan then bitcoin can retest $17k-$18k for capitulation
before it goes to winter sideways for couple of months before
price will test $50k and take another deep somewhere $22k,
and this will be the monthly historical double bottom of bitcoin,
before it goes to expansion somewhere in end of 2023, 8-6months before
2024 MAY HALVING, then the next bull cycle will begin.
for now we should very carefully look how recession will affect the BTC price,
since we already see it from 2020 drop and how feds make the interest rates to 0,
so this time we think that feds wont do the same thing last 2020, when they put rates
back to 0,
strong possible scenario this time is feds will still try to control the inflation even there's
a mild recession, with this scenario we can say BTC can go to bottom and the beginning of
long accumulation.
i will update this chart once we hit $17k-$18k level.
since inflation is starting to go down and gas prices is also
doing good from $7 to $4+
if things goes to plan then bitcoin can retest $17k-$18k for capitulation
before it goes to winter sideways for couple of months before
price will test $50k and take another deep somewhere $22k,
and this will be the monthly historical double bottom of bitcoin,
before it goes to expansion somewhere in end of 2023, 8-6months before
2024 MAY HALVING, then the next bull cycle will begin.
for now we should very carefully look how recession will affect the BTC price,
since we already see it from 2020 drop and how feds make the interest rates to 0,
so this time we think that feds wont do the same thing last 2020, when they put rates
back to 0,
strong possible scenario this time is feds will still try to control the inflation even there's
a mild recession, with this scenario we can say BTC can go to bottom and the beginning of
long accumulation.
i will update this chart once we hit $17k-$18k level.