Imagine Bitcoin at $100,000 or $120,000 let's say, Bitcoin is now growing, and by November 15th the price has reached $118,000, what now?#
In just two months, Bitcoin went from $42,000 to $74,000. After hitting $74,000, Bitcoin has been on a 7-month low since March 14. Exactly 7 months.
Bitcoin hit a low in June 2022. It went below $20,000.
It took 7 months to recover more than $20,000 in Bitcoin.
From $20,000 Bitcoin moved higher and entered a range between $24,000 and $32,000. It took seven months to break this consolidation pattern and advance from a low of $25,000 to a high of $74,000. The entire rise from $25,000 to $74,000 took a total of six months.
Let's say Bitcoin moves to $118,000 by January 2025, what then?
Do we see or expect a move towards $150k or $180k or a correction?
Let's say Bitcoin moves to $118,000 by January 2025, will it go straight up or will it correct?
If we go through the past history, it is possible that it will deviate sideways for another 7 months, from January 2025 to August 2025 Sideways? It seems very strange if you are using a map of past actions to predict future events, then this is meaningless.
Thinking about hitting 118k and then going straight up makes even less sense because we see how the move to 74k led to a pullback and the move towards 25k led to a consolidation, so there is always a stop.
If it starts growing now for 4 months straight and hits $150,000, say in February 2025, what next? 12 months down? From February 2025 to February 2026 we go down? That doesn't make sense.
Let’s say Bitcoin continues in the same pattern for three months and then grows in 2025. This is possible but we have to assume that the whales, who play/trade with money like the rest of the world, will give up all their profits. They will simply decide that they will not benefit from their years of hard work.
Current Scenario: Let’s assume that Bitcoin produces a continuation of the current pattern and produces a drop of $35,720 to end the corrective phase. This is between October and November 2024, what next?
After this big drop, Bitcoin could recover in late November and December 2024. Bitcoin could continue to grow slowly in January and February 2025 just as it did in 2021. Then Bitcoin would gain speed and produce the first rally between April-May-June 2025.... Sounds logical?
In order to have a strong 2025, the correction in 2024 comes first.
Look at altcoin. It is strong for 2025 because it already produced a strong correction in 2024. Altcoin moves first and this is normal and expected because its total capitalization is smaller than Bitcoin, so if the market turns bearish it will go down before Bitcoin.
Since Bitcoin is the big brother, the elder, the father, the boss, if the market is going to turn into obscene Bitcoin it will move forward.
The market has been falling since early 2024, what happens if only two whales decide to take profits?
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