TheGhost
TheGhost 5 minutes reading from Bitcoin

Bitcoin Price Trend Wants to Go Higher

Sooo .. crypto

Looking at the long term bitcoin chart, it tends to have a year long bear market

Last cycle was precisely 1 year, the previous one a bit longer

November 10th marks one year of bear market, so timewise we actually may be there

BTC Crypto

Regarding price

Also we had a pretty substantial cut, considering also the fact that the aggregate market cap is bigger and bigger each cycle

2011: -95% 2014: -85% 2018: -85% 2022: -75%

The "shallower" declines tie in hand in hand with the diminishing returns each cycle

BTC

So it would make sense being in the bottoming out/accumulation phase for both time and price

But let's look a bit closer to the price structure

Current price structure is very similar to the 2018 one, taking shape right after a 50% cut in a matter of 32-44 days

BTC Crypto

We already had the impulse counter trend, its ABC correction

And now we are above the VWAP from the High

We also took down the memeline of the ABC

Not to mention that this time the structure is much much longer, we just spent an entire month sideway in a 4% range

BTC Crypto

So regarding Bitcoin, and using it as a proxy, rightly so, for the whole market

We are now at the point of potential trend reversal

The reversal will be confirmed on a breakout of the base with good volumes and strong price action April 2nd 2019 style

25k is the decider

BTC

So regarding Bitcoin, and using it as a proxy, rightly so, for the whole market

We are now at the point of potential trend reversal

The reversal will be confirmed on a breakout of the base with good volumes and strong price action April 2nd 2019 style

25k is the decider

BTC

The vision for the ratio is the exact same I'm having since April 2021

We will see new ATHs here

ETH / BTC

TheGhost on Twitter

Regarding the rest of the market

Some names are already at the breakout of their bases

Base which in all cases is 6+ months, significant

Thanks @trader1sz for the names

FXS SUSHI INJ PYR

This post is based on this twitter thread.

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