Bitcoin's Life Cycle Part 2 : Bull or a Myth ?

업데이트됨

In my previous post, I made it clear that Bitcoin had entered a downtrend, with an approximate target of 5K based on the data I analyzed within a 91-day timeframe.

In this second part, we can observe the continuation of the downtrend, as evidenced by significant price breaks below a strong support level indicated by the grey box on a 34-day timeframe chart.

For me, the rejection range lies between 41k and 62k. The confirmation point will be when the 2-day timeframe chart becomes overbought. Trade entry confirmation will only occur at a key breakout, and I will notify the precise entry point when it happens.

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Disclaimer : Please remember to consider the timeframe associated with each analysis to avoid any potential misinformation. It's important to note that all predictions I share are for my personal reference and educational purposes only. Any trades inspired by my ideas, whether posted earlier, today, or in the future, involve financial risk for which I will not be held accountable. Thank you for your understanding.

노트

I have been following a second theory for trend analysis for the past three weeks, which suggests that the price will potentially drop to 5k. Although this theory has been effective overall, there was one exception last week, possibly due to incorrect levels I had set. You can refer to this link for more details:

According to this second theory, there is a significant supply zone on a three-day time frame that is likely to push the price down to 5k from its current point. The condition to enter the trade is for the price on the 336-minute chart to become overbought inside the red zone and then experience a key breakout at 29800, indicating a downward movement. This breakout also comes with some early targets. Once I observe this scenario unfolding, I will share those targets as well.