BitcoinSingkat
Global Bitcoin time-analysis
Global Bitcoin View based on time analysis and price structure.
The main global pivot points on Bitcoin are:
Monthly pivot points: August and December 2023.
Weekly Pivot Points: October 16 (16/10/2023) and December 4 (04/12/2023)
The global structure of Bitcoin looks bad. August is a very important month as it contains the monthly pivot point. There are 3 days left before the monthly close, and so far our monthly pivot point close is clearly not bullish!
The price values I expected to see for Bitcoin on this rally were $32,800-$33,300.
However, as you can see, in August we also had a very important weekly pivot point - August 14 (14/08/2023), which worked perfectly and dropped the bitcoin price into the $25-26K support zone.
Global Bitcoin Forecast: Bitcoin's global structure looks weak! Bitcoin has already finished the main part of the growth and our wave of growth, which started from 15K in November 2022, has come or is coming to an end.
Bitcoin Global Targets: The first downside targets are the $22,000-$23,000 levels. If the price consolidates below $22-23K, the next stop will be new lows in the $13,800-14,300 zone.
As mentioned above, in August we close the monthly pivot point on Bitcoin, the next monthly pivot point will be in December. Between two monthly pivot points, there are two weekly pivots: 16.10 and 04.12. Most likely, before the weekly pivot point in October, we will get some kind of short squeeze (maybe even make a new high in the 32.8-33K zone), and then we will start our real correction and receive acceleration on the weekly pivot point in December.
Important: In any scenario, we recommend keeping the bulk of the portfolio now in dollars!
X8 Crypto
The main global pivot points on Bitcoin are:
Monthly pivot points: August and December 2023.
Weekly Pivot Points: October 16 (16/10/2023) and December 4 (04/12/2023)
The global structure of Bitcoin looks bad. August is a very important month as it contains the monthly pivot point. There are 3 days left before the monthly close, and so far our monthly pivot point close is clearly not bullish!
The price values I expected to see for Bitcoin on this rally were $32,800-$33,300.
However, as you can see, in August we also had a very important weekly pivot point - August 14 (14/08/2023), which worked perfectly and dropped the bitcoin price into the $25-26K support zone.
Global Bitcoin Forecast: Bitcoin's global structure looks weak! Bitcoin has already finished the main part of the growth and our wave of growth, which started from 15K in November 2022, has come or is coming to an end.
Bitcoin Global Targets: The first downside targets are the $22,000-$23,000 levels. If the price consolidates below $22-23K, the next stop will be new lows in the $13,800-14,300 zone.
As mentioned above, in August we close the monthly pivot point on Bitcoin, the next monthly pivot point will be in December. Between two monthly pivot points, there are two weekly pivots: 16.10 and 04.12. Most likely, before the weekly pivot point in October, we will get some kind of short squeeze (maybe even make a new high in the 32.8-33K zone), and then we will start our real correction and receive acceleration on the weekly pivot point in December.
Important: In any scenario, we recommend keeping the bulk of the portfolio now in dollars!
X8 Crypto
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