After more than a decade “overheated” with exponential but increasingly reduced rises, it seems to be entering a calmer stage where corrections will not be lacking and it can lateralize on important levels for a time, typical of a market that matures and reaches a significant capitalization.
BTC has a trend and polarity level ahead in a monthly time frame that will serve as supports if the crypto asset continues to decline, until now that I am writing this paragraph it is my main scenario.
To recover the price level of $52,000 by breaking the monthly polarity level exposed in my other trade ideas –resistance- after a breakout of a level where it could not do it for more than 75 days, $44,500, –right now this achievement is compromised- is the task of the buyers to return Bitcoin to the upward rhythm it has had in the last 2 years and continue in a yellow channel invalidating any low this 2022, where reaching 6 digits in 12 months or less will be the most likely, scenario where I will change my current view.
I propose and believe today, that Bitcoin enter the blue zone, a “cold” zone where we will see it oscillate -at least- the average time it has previously taken to “cook” its new bull run, perhaps going down from its previous maximum (2017), time-space that will be the origin of new cycles, where it will gain greater adoption, an opportunity that will give it to those who still do not know it to take it into account
But, as I’ve said in some of my other reports, “regulators are the doctors trying to keep a patient who has suffered from multiple ketoacidosis stable”
In my opinion, the forecast for this model is reserved
Any criticism, comment, suggestion is welcome.
–see related ideas at the bottom of this idea-
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Cryptocurrency trading is subject to high market risk. Carry out your operations with caution. I always do my best to choose high quality coins, but I will not be responsible for your trading losses.