#Bitcoin # Technical Analyst |I Conservative long-term analysis I| Here to help you make money ll Creator of the Halving Cycles Theorybitcoindatanewsletter.comJoined January 2016
Throughout 2018-2020 I bought #Bitcoin and encouraged people to buy below 10k
In April 2021, I said #Bitcoin topped at 64k and sold everything
In November 2022, I came back, called 15.5k the bottom and bought back in at 16.5k
I'm here to help you
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BitX shows how I believe #Bitcoin price moves up by multiples of 10X.
It remains right on track along the projected curve and says that Bitcoin should be at least 100k for this cycle top.
It factors in diminishing returns, which show that reaching the next rungs takes double the time.
This is why Bitcoin was not able to reach 100k last cycle, it could have taken 2 cycles from the last double.
It will take 4 cycles, or 16 years to reach $1,000,000, or by November 28th, 2041.
Last cycle I bought all my #Bitcoin below 10k.
Then I sold it all at 54k in April 2021.
Now I'm all in from 16.5k Nov 2022.
My only mission is to help you succeed!
The best way is my newsletter, which you can join for free in my profile 👉@CryptoCon_
It's a bold claim to say "this time is different" for #Bitcoin.
To do that, you're betting against 3, going on 4 cycles of the same.
Everything you've seen so far, including the launch of ETFs have played right into the cycle.
Remember when they told you that ETF's were supposed to launch Bitcoin to new ATHs instantly?
Instead, the launch of ETFs marked the exact day of the local high.
"This time is different" fools you every single cycle, the same villain wearing a different mask.
Sideways period scheduled to start soon after the completion of the correction, lasting about 4 months until the second early top in June 2024 (purple dot)
New ATHs after November 28th, 2024.
Cycle Top +/- 21 days from November 28th, 2025.
No #Bitcoin cycle mid-top has ever been made without a revisit to the Monthly Least Square Moving Average.
The price of this MA: $30,358.
This number is increasing steadily, but price has come no where close to the always tested support.
This, and many other long-term data observations continue to line up in this area.
In a rare example, even 2019 tested this moving average as support (without the black swan) which has usually broken below healthy supports.
Many have been quick to say the low is in, but not enough data supports that.
My estimate remains a move to the low 30k region by Feb or March.
#Bitcoin is making a small rebound from its drop to $38,500, to now $42,000.
But some people may be jumping the gun to say the bottom is in.
With 12 other examples, the weekly RSI is due to head to the orange .382 support zone, with prices in the low 30k's.
The most common argument to say the local low is in is our 20% decline which lines up with other 20% declines in 2023.
What they don't mention, is that our move is up almost 100%, compared to the 60% moves that came before 20% drops.
This is by far the largest single rise we have seen this cycle.
Data was accurate to tell us when price was overheated, and I am sure it will do the same to tell us when it is undervalued again.
We're just not quite there yet.
Last cycle I bought all my #Bitcoin below 10k.
Then I sold it all at 54k in April 2021.
Now I'm all in from 16.5k Nov 2022.
My only mission is to help you succeed!
The best way is my newsletter, which you can join for free in my profile 👉@CryptoCon_
The Magic Bands continue to hold the spot of the most accurate #Bitcoin price bands that exist.
The mid-top as expected when these were created, was made almost perfectly at Blue Level 2 at $49,200.
Now we look for what's next, and I believe that is yellow Level 2 at $32,600.
Every mid-top has reached a primary band, and once that is done, they correct to the next one lower.
2019 is the only example that moved far below this, mostly due to the early parabolic price action and the 2020 black swan.
Some data calls for lower prices than this around 28k, but I think something like 32k is much more reasonable.
The 200 SMA Wave calls for one of the most aggressive #Bitcoin declines out there.
A target of $28,000.
This indicator, and others like it show that after Bitcoin makes its escape above, it returns to top of the wave to retest the moving average.
Some think that our decline may already be over after dropping to $38,000, but cycle timing and our rise of over 90% calls for more.
$28,000 is the harshest end of what we can see, with a more likely range in the low 30ks.
Greed peaked at 49k, now comes complacency.
This #Bitcoin correction below 40k should come as a surprise to no one.
Long-term data has been overheated since 45k in December, and mid-top price points were met at 49k.
I have been covering this extensively.
The RSI Mid-Top channel made this super easy, each mid-top has formed inside the green channel, and we have yet again a perfect retest.
They said there would be instant god candles to 100k with ETFs, corrections were not possible anymore.
Data over speculation wins again, as it usually does.
I am still under the impression that Bitcoin is due for a larger move to the downside, to complete in the low 30k region in the next month or two.
The cycles are still in control!
Last cycle I bought all my #Bitcoin below 10k.
Then I sold it all at 54k in April 2021.
Now I'm all in from 16.5k Nov 2022.
My only mission is to help you succeed!
The best way is my newsletter, which you can join for free in my profile 👉@CryptoCon_
The #Bitcoin mid-top this cycle came a little faster than the first 2 cycles, but slower than cycle 3.
This is the only mid-top that has ever come outside of an early top (purple and yellow dots.)
Notice that even though the mid-top in 2019 came an entire year earlier than usual, the cycle top still came on time +/- 21 days from November 28th, 2021.
This is because the mid-top can come at any point in the middle of the cycle.
There is still no evidence to suggest that our cycle is accelerated in any way, other than complex theories.
The next second early top is not always a major point, just look at 2020's purple dot which was at a lower price than the 2019 yellow dot.
Bitcoin can still correct, even with ETFs present.
This time is not different until it is, and it's not yet!
After November 28th, 2024 comes new ATHs and explosive growth for crypto. This year is all about laying the foundation for that to happen.
This cycle, I will be keeping the closest eye on layer 6 for the #Bitcoin cycle top.
By the Halving Cycles Theory date of +/- 21 days from November 28th, 2025 here are the prices of the top 3 bands:
Layer 7: 180k
Layer 6: 130k
Layer 5: 94k
The layer 6 price of 130k lines up with around 5 other price experiments that I have performed for the cycle top.
Even though most examples have been able to achieve layer 7, it is better to stay more on the conservative side as these models can fail.
Ultimately, we will watch data to see which band is most relevant when the time comes!
Bitcoin looks set for 130k by late 2025.
The #Bitcoin Log Regression Curves have done their job once again, and just like 2019 looks to be forming a temporary top in the white area.
When price was retesting layer 3 at 26k then, it told us 34k was next.
Then the fair value layer broke to the upside, suggesting a move to the orange-circled area like we saw in 2019.
What do they say next?
Price spends most of its time between two bands during a cycle, this cycle is layer 3 and the fair value layer.
A move back to layer 3 brings prices like $29,625.
This model was accurate in calling both previous cycle tops as well after its creation.
The top two layers are now priced at:
Layer 6: $89,062
Layer 7: $123,924
These continue to increase every week.
A key #Bitcoin resistance is now being broken to to the upside:
The Fair Value Layer
These are the most accurate log regression curves, which I watched call both 2021 tops.
Something almost no indicator was able to do.
Price has now entered the white expanse, where according
Last cycle I bought all my #Bitcoin below 10k.
Then I sold it all at 54k in April 2021.
Now I'm all in from 16.5k Nov 2022.
My only mission is to help you succeed!
The best way is my newsletter, which you can join for free in my profile 👉@CryptoCon_
The 9-day RVGI is now locking in the first #Bitcoin critical cross of the cycle.
The cross over the critical level started at 45k in December 2023 and is now confirming price is overheated for the short-term.
This comes just as Bitcoin hit the .618 candle body retrace at 47k.
This is the first of two crosses over the critical level that should occur this cycle.
The next, will mark the ramp-up to the cycle top.
The first critical cross has brought downside of anywhere from 30% to 50% (not including the 2020 black swan).
Our current prices are only down 15% from the highs.
A 30%+ correction from 49k is still more than reasonable after the largest single move we have ever seen this cycle.
This would mean prices in the low 30k's, to come in the next couple months.
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