Key points:
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The Bitcoin Hill of all time is of little importance for people who see BTC prices for so long.
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Traders say that both the latest height and the bull market itself are in the borrowed time.
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Comparisons with previous price cycles remain in use despite the developing institutional investment scene.
Bitcoin traders (BTC) call for withdrawal at the highest levels and seven “green” weekly candles.
BTC Momentum still meets skepticism because commentators assume that lower levels will be next.
The BTC road map is preparing for the “cycle peak” in III Q4
Bitcoin has reached the highest levels in history this week, data from CointeLgraph Markets Pro i TradingView Confirmed – but despite the fact that the third in II -2, BTC/USD remains uncompetitive for many.
Long -term analysis suggests that the price action is not only lower due to a return in order to consolidate profits, but the entire bull market is almost completed.
Among the latest forecasts calling for the “mental check” is lizards with commercial resources.
In one of his The latest posts on xHe recalled a road map on the bull market from the end of 2023.
This is our personal road map for this cycle. The most important key message on shipping:
1. Fullly Momentum will be continued, powered by mass adoption (ETF, buying large institutions)
2. We expect variability and possible correction in the middle of 30s in Q1 2024
3. New ATH in … pic.twitter.com/t9xjycsusu
– Stockmoney Lizards (@Stockmoney) December 31, 2023
“In December 2023, we published this BTC road map (lower image). I applied the actual table with the same price TF. It is slightly lower, but the schedules are quite accurate,” he said.
The chart itself shows the next “peak of the cycle” Bitcoin in the first quarter this year, and subsequent bears move BTC/USD back to $ 2021 of the highest USD 69,000.
Others referred to the historic BTC price campaign to argue about a more inevitable correction.
The Crypto Chase trader noticed that the price is currently much higher than some typical interpretations of motor (EMA).
“Every time the price deviations far beyond EMAS (round areas), we always see withdrawal”, he he said X followers.
“Even if it is withdrawing, if it is short before the addition, it is withdrawal.”
Post recognized the presence of an increased institutional purchasing power in this cycle, which can distort the price results in favor of Bulls.
Bitcoin “looks exhausted”
According to Cointelegraph, various market participants expected a significant comedy this month.
Related: 107,000 $ fakeout or fresh ups of all time? 5 things you should know in Bitcoin this week
Support goals cover everywhere from 105,000 to 90,000 USD, and supporters remained in the tank on the bull market.
“This does not mean that the defect is coming immediately, it simply means that Bull Run is probably coming to an end and I would rather not take the risk and not take up space here. Look now 2021 vs” – wrote colleague Roman Roman in updating X on this topic.
Roman described Bitcoins as “looking exhausted” based on relative strength (RSI) indicators of bears.
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
