Updated outlook on BTC path towards the election season

10 июл.

These are not predictions, just best guesses. Given the recent price breakdown my previous view is invalidated. I've updated how the price path toward the election might look like. I've drawn heavy inspiration from the 2021 path where we corrected from April till August.

I think we're near a bottom given the divergences on the daily and the washed out sentiment. The price action until August the way I've drawn it will keep everyone guessing, annoyed and bearish without anything breaking down much further. At some point in Sept we should start rocketing higher once the big boys come back from break.

If we fall materially from here towards the 44k-50k region then obviously the above scenario is also invalid and I will have to reevaluate. In that case, if we break down that much I think we might get a V bounce, but I'll try draw that out when we get there.