BTC - Bull run is almost starting!
We're currently observing Bitcoin (
BTCUSD) following a strong trendline since its all-time low in 2020, marked by the yellow dotted channel. This channel has historically provided support during significant pullbacks, with Bitcoin maintaining the larger uptrend structure.
Key Levels:
Current Price: $54,677
Fibonacci Levels: Bitcoin is currently hovering around the 0.5 Fib level ($43,683), showing strong resistance at the 0.786 level ($60,074).
Support Zone: There's a major support cluster between $26,000 and $30,000, highlighted by the green zone, where Bitcoin might find a local bottom if it retraces further.
Oscillators & Indicators:
BTC x USM2 Divergence: This indicator suggests a potential bullish crossover, as the MACD lines are flattening. A bullish crossover here could trigger a renewed rally in 2024.
Power Law Oscillator: Currently hovering around oversold levels, indicating the possibility of a local bottom forming before the next upward push.
Projection: Based on the projection drawn (blue curve), Bitcoin could see a dip into the highlighted green support area between now and mid-2024, followed by a potential sharp rebound towards new highs in 2025. The projection aligns with historical cycles, where long-term support at the base of the channel propels Bitcoin into its next bull run.
Timing:
Consolidation: The market could consolidate for the next 22 weeks (as highlighted by the blue range), after which Bitcoin might finally break out of this consolidation phase.
Next Highs: Assuming the trend follows its current trajectory, we could see Bitcoin breaking its previous all-time highs and heading towards the 100k region in late 2025, as indicated by the upper trendline of the yellow channel.
Conclusion: This is an exciting time for Bitcoin. The coming months could present an excellent accumulation opportunity before the next major move upwards. The technical analysis suggests that Bitcoin remains in a long-term bullish structure, despite short-term volatility.
BTCUSD) following a strong trendline since its all-time low in 2020, marked by the yellow dotted channel. This channel has historically provided support during significant pullbacks, with Bitcoin maintaining the larger uptrend structure.Key Levels:
Current Price: $54,677
Fibonacci Levels: Bitcoin is currently hovering around the 0.5 Fib level ($43,683), showing strong resistance at the 0.786 level ($60,074).
Support Zone: There's a major support cluster between $26,000 and $30,000, highlighted by the green zone, where Bitcoin might find a local bottom if it retraces further.
Oscillators & Indicators:
BTC x USM2 Divergence: This indicator suggests a potential bullish crossover, as the MACD lines are flattening. A bullish crossover here could trigger a renewed rally in 2024.
Power Law Oscillator: Currently hovering around oversold levels, indicating the possibility of a local bottom forming before the next upward push.
Projection: Based on the projection drawn (blue curve), Bitcoin could see a dip into the highlighted green support area between now and mid-2024, followed by a potential sharp rebound towards new highs in 2025. The projection aligns with historical cycles, where long-term support at the base of the channel propels Bitcoin into its next bull run.
Timing:
Consolidation: The market could consolidate for the next 22 weeks (as highlighted by the blue range), after which Bitcoin might finally break out of this consolidation phase.
Next Highs: Assuming the trend follows its current trajectory, we could see Bitcoin breaking its previous all-time highs and heading towards the 100k region in late 2025, as indicated by the upper trendline of the yellow channel.
Conclusion: This is an exciting time for Bitcoin. The coming months could present an excellent accumulation opportunity before the next major move upwards. The technical analysis suggests that Bitcoin remains in a long-term bullish structure, despite short-term volatility.
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