Possible Cycle TOP for BTC and imminent altcoin rally!
Based on trend analysis , support and resistance area with CPR and cyclic analasys of
BTC
price action .
The vertical lines are the end of the BITCOIN SEASON took from altcoin-season-index/ official website.
We should be near the end of the Bitcoin season and going to the alts season (even if not a big one i think) i would probably call it an alt relief.
And we could after have a cycle TOP for bitcoin resulting in a prolonged downtrend for the 2024.
A price action similar to the previous bear cycle i can expect although with difference .
I think that 15k could have been the bottom for BTC with maybe another crash to that area in the coming year.
We could retest 18k .
ELLIOT WAVES ANALYSIS
We are forming the 2° waves wich started in the last dump to 19k and it has now support at 25400/25200 area.
If we break below that this will be invalidated and we could be at cycle top with a further dealy for an alt relief.
I will post more ideas like and comment if you like ,
share some opinion !
BTC
price action . The vertical lines are the end of the BITCOIN SEASON took from altcoin-season-index/ official website.
We should be near the end of the Bitcoin season and going to the alts season (even if not a big one i think) i would probably call it an alt relief.
And we could after have a cycle TOP for bitcoin resulting in a prolonged downtrend for the 2024.
A price action similar to the previous bear cycle i can expect although with difference .
I think that 15k could have been the bottom for BTC with maybe another crash to that area in the coming year.
We could retest 18k .
ELLIOT WAVES ANALYSIS
We are forming the 2° waves wich started in the last dump to 19k and it has now support at 25400/25200 area.
If we break below that this will be invalidated and we could be at cycle top with a further dealy for an alt relief.
I will post more ideas like and comment if you like ,
share some opinion !
KatoshiCoins
