As can be seen, BTC is moving in a curve. This curve seems to have found bottom around 16k for this cycle and is right now hugging the bottom trend line.
-Given this curve, will we see 16k again?
-Looking at the historicals, most likely not. But IF the price action breaks the bottom trendline then that will be a first and after that anything can happen.
If everything goes according to plan, and by plan I mean according to history, we should see a cycle top around next year second half, latest by start of 2025 but we may not need that much time.
-What will be the catalyst for a new cycle top?
-No idea. I make my decisions only looking at the chart and not news.
-Can I be wrong?
-Maybe, maybe not.
Only thing we as investors can do, is to DCA our position and wait.
-Given this curve, will we see 16k again?
-Looking at the historicals, most likely not. But IF the price action breaks the bottom trendline then that will be a first and after that anything can happen.
If everything goes according to plan, and by plan I mean according to history, we should see a cycle top around next year second half, latest by start of 2025 but we may not need that much time.
-What will be the catalyst for a new cycle top?
-No idea. I make my decisions only looking at the chart and not news.
-Can I be wrong?
-Maybe, maybe not.
Only thing we as investors can do, is to DCA our position and wait.