April 25, 2024

Bitcoin: How deep is the rabbit hole?…

Dear Ivan P in the comments asked:
"Good evening. “further to Hell with recharges somewhere in October-Novemberlast year". - what does this phrase mean? are you waiting for a correction in the range of 10000-20000 (Oct-Nov 2020)? "

To “not get up ten times,” I answer here.

If you have noticed, then this is not my scenario, but the one that "designated".
This year I consider it unlikely.
1. The cost of mining is usually determined before the next halving (approximately May 24th).
2. We finished the calendar year with almost 29K. Even if you fold it into half 14.5K (I don’t believe it).
Bitcoin year (January 9th) ended 41K half 20.5K (probably, but barely).
The commercial year of Bitcoin (from the first pizza) on January 12 “should” have ended at 47.5K (calculated) we get 23.25 (quite likely, but after above 42K)
3.The “minimum normal” rise from the 2019 highs is calculated to be 50.5K. Therefore, if the correction occurs without updating the highs, it will be “incomplete” around 25.25, but may stop at the point where the “indecent” growth of 26.75 begins (wrote in the blog).

The depth of correction, as a rule, does not depend on the highwhich is "shown", and from the high to which the market "wants" to throw the market. That is why, Eliot constantly troubles with the fourth and especially with the fifth wave. TA, in the same "fifth position".

Regards, V.

P.S.
</strong>I remind you.
I draw up trading plans with support. Expensive.
No. Very expensive.
For this year, I can take two more slots.

Best regards, V.