Washigorira
Washigorira 1 minutes reading from Bitcoin

Bitcoin Scenarios (And It’s More Likely)

Bitcoin Scenarios πŸŸ‘πŸ”΅πŸ”΄ (M)

Focusing on candles close only, it took 13 months for Bitcoin to get from top to bottom in both previous cycles. From there it went sideways until breakout.

Based on this assumption, I envision 3 scenarios for BTC in the coming months.

1/3πŸ‘‡

1/3 Scenario 1 🟑

In this one, bottom is already in & PA's going sideways until it finally breakout significant level that confirms a reversal.

2/3πŸ‘‡

2/3 Scenario 2 πŸ”΅

In this case, price's finally breaks June's low & Bitcoin finds a bottom around 14k, goes sideways, gets back above June's law & finally breaks significant level with confirmation of a reversal.

3/3πŸ‘‡

3/3 Scenario 3 πŸ”΄

This is the most bearish one, with a worsening macro economic context or/and geopolitic escalations. In this scenario, June's low & 14k couldn't hold. Bitcoin

finally finds its bottom around 10k.

πŸ‘‡

RSI's just crossover its trendline (15d left before monthly close). That could indicate BTC has bottomed. Yet reversal won't be confirmed until it crosses 50 level.

Which scenario do you think is more likely to happen? I'd like to know, so comment & RT as much as possible.🫑

This post is based on this twitter thread.

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