BTC LONG TERM

Jul 31, 2023

Since the end of March, the market has been experiencing a low-volume phase [see: black arrow].

Currently, even though we observe a potential double top formation, the market is unpredictable.

Our $40,000 expectation remains unchanged, but before that, there are two highly possible scenarios:

1 - Making a new bottom around the $28,300 level and continuing its path.

2 - Performing a liquidity cleanup between $25,250 and $26,000 and continuing its path.

Whichever of these two scenarios unfolds, it will present a buying opportunity for us.

Aug 17, 2023

Note

As mentioned earlier, the level of $28,300 worked.
Now we will observe a new dip formation in this area.

Aug 18, 2023

Note

In our long-term analysis, the liquidity zone between $25,250 and $26,000 that we previously mentioned has been sharply cleared due to the impact of macro-level news (SpaceX BTC sale, Evergrande bankruptcy). Currently, we are standing at the lower end of the range we have been monitoring, between $25,240 and $40,000.

We consider this area as a local bottom and anticipate a journey towards the range high level of $40,000. However, if negative news flow persists, we might descend to the imbalance zone between $20,695 and $23,900.