Not excluding an escape of $BTC deep down to approach 80-83k to take away all the confidence of investors. A great price action supports below. It would be reasonable to have a correction for a longer-term growth.
I analyze a detailed article about #ETFvsBTC #btc scenarios towards the answer: How much will $BTC peak in the distant future? I will analyze based on personal opinion through the 3 scenarios stated in the 3 arrows as shown in the image: 1. Blue Arrow Scenario: I am using the pitchfan indicator for a long-term BTC chart showing the price path and possible BTC price target according to PLan A (what I call the green scenario). Accordingly, BTC will be able to reach the threshold of the Super Wave Cycle with a peak of $300-350k.
The January candle closed right at the PA closing. Strong support. Could the price dips below 77-78k be just wicks to shake out all the small players?
Or is it a traditional market continuing?? I bet that BTC will not drop deeper, as many are waiting for that. Although technical analysis suggests it could go deeper. Sometimes, the contrarian thinking must prevail.
The bullish hope $BTC only thanks to the market maker doing everything Otherwise, it will take a bit longer. Buying BTC below 80 is a reasonable choice. Buy and buy at a lower price.
$BTC The price of Bitcoin (BTC) reaching $77,000 is a hypothetical high price and it is not the actual price at the current time. If Bitcoin were to drop sharply from its peak (around $73,750 in March 2024) to a much lower price (like $77,000 in your example if it is considered a sudden drop), the reasons could stem from various factors: • Large Sell-off: Major investors (whales) selling a huge amount of Bitcoin, creating strong downward pressure on the market. • Regulation and Policy: Governments or regulatory agencies implementing extremely strict regulations, prohibitions, or heavy taxation on cryptocurrencies. • Unexpected Events (Black Swan Events): An unforeseen economic, political, or technological event, such as a global financial crisis, a major cyber attack on a large exchange, or a significant technical flaw in the Bitcoin protocol. • Negative Market Sentiment: Bad news spreading quickly, causing fear (Fear, Uncertainty, Doubt - FUD) and leading retail investors to panic sell as well. • Changes in Interest Rates and Macroeconomics: Central banks raising interest rates or implementing tightening monetary policies, reducing liquidity and causing investors to shift capital from risky assets like crypto to safer assets.
The monthly candles of the alts do not report incorrectly The increases at the beginning of the month are all traps At the end of the month, withdraw all your money