I posted this chart in 08/2022. And it predicted the course of the transition from bear to bull.
Bitcoin dumped from 30k to 17k in june 2022. then was slowly creeping up to 25k. Then elevator down to 19k. then ftx. then bull.
Sound familiar?
Don't listen to people trying to convince you stuff is different, something is broken, or this and that happens because of some model.
Maybe it's boring because it's too simple.
Stocks are back at all time highs, Bitcoin touched 78k and while last week people were still calling 50% corrections on the S&P 500, this week feels unreal.
Let's take an objective look at the charts:
Bitcoin is now repeating a move it has done multiple times before during bear markets.
I believe a rejection at the daily EMA200 / 0.5 FR is a possible scenario.
HOWEVER: WE WILL NOT DIVE TO 40k AS SOME PREDICT. I believe in 2 scenarios: A) Pullback to somewhere between 65k - 70k or - should stocks correct further down now - into the green "Max pain" box.
Either way. Downside is limited. I am cautious and not buying here. My buying zone is 53 - 60k, in case we touch that again.
Next 6 months are bullish.