My thoughts about BTC bottoming

2023년 2월 9일

Last several years I've been using many tools to analyze, and try to take advantage of opportunities in terms of long-term market structure on BTC.

One of the main tools I really like to use and came with the most reward so to speak, is a specific Fib level. It proved to read with a very good probability the potential bottom of BTC ( especially BTC ) on the higher timeframes.
As you can see on the chart, each cycle has a corresponding fib plotted which starts at the H and goes to the L of that particular cycle. The fib levels presented are only 2, with the green one being the "default", and the gray one being a secondary, only touched once, after a crisis-like moment in 2011. I believe this year we will be seeing it again, so the chart plots both levels and my expectation is that the bottom would be somewhere inside the range of 8K to 13K by end of Q3 2023. The projection coincides with a potential additional drop of the stock market this year, and the overall macroeconomic conditions we are living through.

We will see how things play out, but I am building confidence on the usefulness of these levels.