Continuous exponential growth for BTC is unrealistic, as it would lead to extremely high prices by 2025.
Halvings cause supply shocks followed by rallies, creating growth cycles. My estimate for BTC's long-term goal by 2025 is around $150K to $180K, with minimal increase afterward, reaching an asymptotic price.
Important Points:
2016 bull run: BTC took 303 days after breaking its previous ATH to reach $19,666.
2020 bull run: BTC took 337 days after breaking its previous ATH to reach $69,000.
2024 bull run: BTC broke its previous ATH in 500 days and is now retesting it. Based on historical patterns, a 303-337 day bull run may follow.
BTC.D Bitcoin dominance broken down off strong zone and moved towards local demand zone of 53.89%.Now it's bouncing off from the local demand zone and heading towards 55.27% zone yet again.We might see it retracing from the zone of 55.27%.Meanwhile we might continue to see slow movement in alts till it starts to retrace.Be patience and wait for the right time to print money with Me (TG- @Queenbee_00)
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Just wait for few days you will see your self. Last year exactly market reacts positive vibe after our alerts, and I am feeling same bullish vibe and alts bull season will start from in few days, if you're thinking same then hit LIKE ❤
We're taking a look at the daily #Bitcoin RSI right now. It's massively breaking out to the upside, and obviously, I've been talking about this basically non-stop over the last two weeks. So first of all, we came back down for a test to confirm that previous resistance introduced support, and then we consolidated above that line of resistance, and now we're continuing the breakout further to the upside. If you're taking a look at the last time we saw a major breakout in the RSI above a decent line of resistance, that was right back in the beginning of February. What came next was a major bullish move in the price of Bitcoin. But if you're looking at the last time we actually saw a breakout and then a retest and some sort of consolidation, and then a further move to the upside in the RSI, it's like what we're seeing at the moment. The last time we saw something like that was back around mid-September. And if you're looking at the Bitcoin price during that time period, it looks extremely similar to right now. We just had a pullback in the price of Bitcoin. We kind of consolidated somewhat sideways for a few weeks, and even over a month, and then we eventually reversed back into the bullish direction from a short-term trend into another bull trend that lasted for a few months.
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The #Bitcoin chart indicates that the price is nearing a potential breakout above the resistance line, which is currently around $62.7K. To confirm a breakout from this potentially significant falling wedge pattern on the daily timeframe, we need to see a solid daily candle close above that resistance. Ideally, this close should be above a previous high, such as the candle close around $64.2K. If we manage to break above $62,700 with a candle close above that level, then we can start to feel much more confident that we're actually transitioning towards a more bullish trend in the short term. In case you're wondering, the support line for this wedge is also around $57.5K and 100EMA as support as well.
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