BTC CYCLE ANALYSIS
On this back-testing analysis; I made it simple, for everyone to understand easily.
Disclaimer: I'm not a professional and just wants to share my idea with everyone and hopefully it helps some of you out there on where BTC is going next (according to my analysis).
This is a chart on BTC INDEX Since the beginning of time, BTC have been on a bull run ever since.
Though after every All time highs BTC goes through a correction phase that averages a drop of -80% from its local high.
2021-2022 correction phase is currently on a -70% drop and stuck at local support of 18K, this is why I expect a further drop to a support level at 13-12K.
Going Long is not recommended, as 60-70% investors and traders in the crypto market still believe a drop will soon be expected according to BTC's cycle analysis
"This week a big move will happen in crypto."
Ps: BTC’s correlation with bonds and equities has raised considerably in September, meaning that BTC is currently following US economy related markets very closely. This could tell us a bit about what to expect in terms of long term price action and market behavior for BTC and crypto in general, considering that regulation will likely become stricter in the next few years.
Stay safe
And I highly suggest you DYOR!
Disclaimer: I'm not a professional and just wants to share my idea with everyone and hopefully it helps some of you out there on where BTC is going next (according to my analysis).
This is a chart on BTC INDEX Since the beginning of time, BTC have been on a bull run ever since.
Though after every All time highs BTC goes through a correction phase that averages a drop of -80% from its local high.
2021-2022 correction phase is currently on a -70% drop and stuck at local support of 18K, this is why I expect a further drop to a support level at 13-12K.
Going Long is not recommended, as 60-70% investors and traders in the crypto market still believe a drop will soon be expected according to BTC's cycle analysis
"This week a big move will happen in crypto."
Ps: BTC’s correlation with bonds and equities has raised considerably in September, meaning that BTC is currently following US economy related markets very closely. This could tell us a bit about what to expect in terms of long term price action and market behavior for BTC and crypto in general, considering that regulation will likely become stricter in the next few years.
Stay safe
And I highly suggest you DYOR!
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