Pinpointing the cycle bottom is pretty much impossible but we will give it a go anyways.
This Gann Fan you see on the chart has had amazing reactions in the past :
1. Covid crash bottom hit 8/1 Gann perfectly
2. Covid weekly candles closing on 3/1 Gann
3. Price hovering over 2/1 Gann before starting the bullrun.
Amazing reactions last couple of years so hopefully we can still use it as a template for things to come.
So I have narrowed down a possible timeframe and price where Bitcoin could bottom , somewhere inside this red circle price could find a cycle bottom, between 14k -16.5k.
Could we wick lower than the 3/1 Gann yes but to close under it I highly doubt it. Also there is a Fib Date coming up week of 18th July 2022 , last two times we had moves to the upside infact the last one was amazing and pinpointing that massive pivot up last july.
This Gann Fan you see on the chart has had amazing reactions in the past :
1. Covid crash bottom hit 8/1 Gann perfectly
2. Covid weekly candles closing on 3/1 Gann
3. Price hovering over 2/1 Gann before starting the bullrun.
Amazing reactions last couple of years so hopefully we can still use it as a template for things to come.
So I have narrowed down a possible timeframe and price where Bitcoin could bottom , somewhere inside this red circle price could find a cycle bottom, between 14k -16.5k.
Could we wick lower than the 3/1 Gann yes but to close under it I highly doubt it. Also there is a Fib Date coming up week of 18th July 2022 , last two times we had moves to the upside infact the last one was amazing and pinpointing that massive pivot up last july.