Bitcoin has approached a 3 month decline in its second year of the decade.
The second year is typically a bearish year with some form of rally occurring during the year. This rally can last anywhere from 2 to 4 months, typically breaking in the second or third month, then declining into March or April the next year.
By using smart money concepts, we can find an unmitigated high that provides a price target of 66245 for entering shorts toward the midpoint of the year (April to June). This will likely be driven by adoption narratives across the world.
A common gap is located at approximately 24600, which should provide the price target for a decline into March 2023, beginning the uptrend.
Bitcoin is set to complete its first 15-year cycle in 2024 - this is a major pivot point for all assets since it is 180 months, half of the circle.
Overall looking for 2024 to be a bearish year.
The second year is typically a bearish year with some form of rally occurring during the year. This rally can last anywhere from 2 to 4 months, typically breaking in the second or third month, then declining into March or April the next year.
By using smart money concepts, we can find an unmitigated high that provides a price target of 66245 for entering shorts toward the midpoint of the year (April to June). This will likely be driven by adoption narratives across the world.
A common gap is located at approximately 24600, which should provide the price target for a decline into March 2023, beginning the uptrend.
Bitcoin is set to complete its first 15-year cycle in 2024 - this is a major pivot point for all assets since it is 180 months, half of the circle.
Overall looking for 2024 to be a bearish year.