#Bitcoin - What's Next?
The big Sunday report, all you need to know:
🚩 TA/LCA/Psychological Breakdown: In March, everyone expected things would keep going up once we hit the 70k region. I urgently made a post announcing the start of a massive sideways movement, and you can still see it today. So far, it's been 191 days of sideways movement inside the box I outlined back in March, and things still seem move in this game of ping pong. When we reach 68k and above, people go insane and turn full bull, once drop below 60k, and people become massive bears, calling for 40k or even lower. So what's the goal behind this sideways movement?
I've explained this many times: the ultimate goal of this sideways movement is to play with your emotions. It has always been this way after every halving, there wasn't an immediate bull, instead, there was a sideways period for several months. To be clear, we've filled 13% of the 4-year cycle each time (365 * 4 = 1460 days, 191/1460 x100 = 13%). This is almost identical to previous cycles, which always saw the start of a massive bull run between 12-16% of the cycle. So, what does this mean?
In my opinion, to fill the 16%, we need another 43 days, which would take us to the end of the year, similar to the 2020 bull run that also began in winter. Overall, everyone knows my view: BTC will break out of the box by the end of this sideways movement, whose sole purpose is to exhaust retail traders and allow big players to accumulate as much as they want "cheap." Yes, people will miss out big time, and my targets for this incoming bull run are between 250-300k and 550k by 2030!
Short term: In the short term, a few factors are worth mentioning. First, there’s the MA20 Weekly, which is also shown in the chart; you can clearly see how BTC has consistently closed above this level over the last four weeks. For that reason, any dip to the region of 62k is a strong buy if the market revisits it! We’ve also broken out of the diagonal resistance, but I wouldn’t place too much emphasis on diagonal lines overall. The market looks healthy, and I expect a breakout from this box in the next 2-3 months at the latest! Patience, we've been patient since March! This week on Wednesday META, CoinBase and Microsoft will reveal their quarter earnings which will most likely become better than what market expects which will result in additional green candles in the market.