End Of The Bitcoin Journey
After not posting for a long time, I finally returned to analyzing the market, namely the Bitcoin market. From the chart here we can see the end of Eliotte, namely stage 5 in the 1 week time frame, which means what? That's right, we are at the end of the Bitcoin bullrun.
OK, I will explain a little about the chart that I made;
First, Bitcoin at the end of this year will reach its highest point atĀ 109k-119kĀ then will fall slowly but still in theĀ 100kĀ area.
Second, Bitcoin will experience a fairly large decline toĀ 60k-65K, why is that happening? as Bitcoin has a CME Bitcoin GAP in theĀ 80k-78kĀ area.
Third, Bitcoin will experience a very large decline in March-April 2025, namely it will touch a price ofĀ 43k-45k, why is that happening? because Bitcoin is currently forming a pattern, namely Head and Shoulders, with a low position betweenĀ 43k-48k.
What is next? OK, in my opinion, Bitcoin will hitĀ 100kĀ again in 2027, If;
1. Bitcoin support is strong in theĀ 43kĀ area
2. There is no Global Monetary Crisis.
If either happens then Bitcoin will hitĀ 10kĀ again. How is that possible? Yep, we forgot something, namely the CME Bitcoin GAP which is in theĀ 9.8kĀ area.
Maybe this is all I can say, and maybe I'll come back a few months from now.
I'll just end it here and say thank you.