Bitcoin Market State - October 2023

22 Okt 2023

Following my previous update in June 2022, Bitcoin has indeed carried out most of the dead cat bounce that I've been expecting. Granted, it took longer than I thought, but the levels are still valid.

This is just an update that we are indeed on track with the plan, anticipating to enter the 35k-37k price zone before the bear market continues.

This zone is a strong psychological pivot, as many bear ideas become invalidated, and may bull ideas become confirmed. As some would call it, a max-pain scenario for a top.

Following that, my analysis suggests that we will be seeing much lower prices before 2025.

Currently I am targeting $8,800 and $5,555 for accumulation zones.

24 Okt 2023

Nota

The Bullish Target has now been reached as planned. Expecting some weeks of a topping formation, potentially deviating a bit higher.

However eventually we will start seeing bearish acceleration to the targets mentioned above.