In another idea (check my idea), I had forecasted a -50% dump of 
BTC, and we are close. I also highlighted that on a weekly timeframe, BTC had been oversold due to ETF hype, which forced BTC to consolidate mid-bull market to reset the MACD and RSI to lower levels, just like in 2021.
Here was the idea: https://www.tradingview.com/chart/BTCUSDT/A1FIgaY5-Is-Bitcoin-BTC-heading-toward-a-50-correction-Armageddon/
Additionally, this idea perfectly forecasted what is happening now: https://www.tradingview.com/chart/BTCUSDT/FAyIOvF7-BTC-is-about-to-do-a-12-to-27-correction-high-probability/
I also correctly predicted that all theseBTC owned by external actors would have to be sold on exchanges to reach the market, negatively impacting the price action.
https://www.tradingview.com/chart/BTCUSD/S7LEfnWp-BTC-supply-crash-fairy-tale-the-untold-story/
Now, here is an updated chart to my previous idea that accurately forecasted the current situation.
What is coming next?
Check the MACD. On the weekly timeframe, we are close to the same situation as in 2021 whenBTC bounced back to go parabolic. The yellow line shows the level where the MACD could cross and reverse to finish this bull run successfully.
In the worst-case scenario, we might continue the downtrend pressure while the RSI and MACD reset lower.
This pressure counterbalances the bull run and is the reason whyBTC does not have the energy necessary to pass over the top resistance and is ranging.
This range will continue until the weekly MACD crosses over and the RSI reaches the oversold territory.
The good news is that the more time it takes, the lower the MACD and RSI will be, the longer the final bull run will become, and the higherBTC will go.
MT.Gox, Germans, Genesis, and Grayscale have done their dumping, so the sky is getting clearer, and the sun is starting to shine.
I do not think this bull run will be canceled; there is no way it can happen. It can be delayed by external factors, but the charts are clear and clean. We are moving forward in a massive way as soon asBTC gets oversold.
From the chart, a true reversal in the trend should happen between 2 to 10 weeks.
Be patient, do not panic, do not sell your coins; your portfolio will turn back to green soon. DYOR.
BTC, and we are close. I also highlighted that on a weekly timeframe, BTC had been oversold due to ETF hype, which forced BTC to consolidate mid-bull market to reset the MACD and RSI to lower levels, just like in 2021. Here was the idea: https://www.tradingview.com/chart/BTCUSDT/A1FIgaY5-Is-Bitcoin-BTC-heading-toward-a-50-correction-Armageddon/
Additionally, this idea perfectly forecasted what is happening now: https://www.tradingview.com/chart/BTCUSDT/FAyIOvF7-BTC-is-about-to-do-a-12-to-27-correction-high-probability/
I also correctly predicted that all these
BTC owned by external actors would have to be sold on exchanges to reach the market, negatively impacting the price action.https://www.tradingview.com/chart/BTCUSD/S7LEfnWp-BTC-supply-crash-fairy-tale-the-untold-story/
Now, here is an updated chart to my previous idea that accurately forecasted the current situation.
What is coming next?
Check the MACD. On the weekly timeframe, we are close to the same situation as in 2021 when
BTC bounced back to go parabolic. The yellow line shows the level where the MACD could cross and reverse to finish this bull run successfully.In the worst-case scenario, we might continue the downtrend pressure while the RSI and MACD reset lower.
This pressure counterbalances the bull run and is the reason why
BTC does not have the energy necessary to pass over the top resistance and is ranging.This range will continue until the weekly MACD crosses over and the RSI reaches the oversold territory.
The good news is that the more time it takes, the lower the MACD and RSI will be, the longer the final bull run will become, and the higher
BTC will go.MT.Gox, Germans, Genesis, and Grayscale have done their dumping, so the sky is getting clearer, and the sun is starting to shine.
I do not think this bull run will be canceled; there is no way it can happen. It can be delayed by external factors, but the charts are clear and clean. We are moving forward in a massive way as soon as
BTC gets oversold.From the chart, a true reversal in the trend should happen between 2 to 10 weeks.
Be patient, do not panic, do not sell your coins; your portfolio will turn back to green soon. DYOR.
Nota
Things are moving according to plan. BTC will either be rejected by the middle of the channel, or pump back to $70k. Since the rejection is not really strong, I think that the most probably scenario is a pump back to 70k. Then it will be a good time to put some strict stop-loss in case of another dump in the 50k range. I will follow and post when necessary.Nota
BTC was rejected from the center trendline, which is now acting as resistance. Bulls need to push above $61,500 to have a chance to touch the top of the range and avoid falling at the bottom.Dagangan ditutup: sasaran tercapai
This idea is old and was accurate. Closing.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.