BitcoinLong
Bitcoin - repeat of previous cycle? FOMC correlation!
Legend :
Green: repeat of 2015 cycle
Yellow: repeat of 2019 cycle
Vertical Red lines: FOMC meetings
Today 05/03/2023 with the FOMC Fed meeting over, I have highlighted all the fomc meetings as vertical red lines and if we assume a pullback similar to the previous pullback, it could coincide with what usually happens after FOMC meetings and also a retouch of the bull market support band (Horizontal Red line) is a healthier correction like in 2015 cycle.
If Bitcoin follows 2019 cycle, there may not be any pullbacks for next few weeks with a parabolic rise to 40-45k. However, a repeat of 2015 cycle is healthier and sustainable. A repeat of 2019 cycle although can give a parabolic rise to 40-50k, it can fall back to 20k before next year having in April 2024.
With the S&P bullish bias due to the signal we got for bullish trend, we can assume buying the pull backs on bitcoin can help with a healthier accumulation.
I hope you guys are accumulating! If you need the Bitcoin prediction for the bull run after next halving in April 2024, let me know. I will publish my assumptions and forecast!
Green: repeat of 2015 cycle
Yellow: repeat of 2019 cycle
Vertical Red lines: FOMC meetings
Today 05/03/2023 with the FOMC Fed meeting over, I have highlighted all the fomc meetings as vertical red lines and if we assume a pullback similar to the previous pullback, it could coincide with what usually happens after FOMC meetings and also a retouch of the bull market support band (Horizontal Red line) is a healthier correction like in 2015 cycle.
If Bitcoin follows 2019 cycle, there may not be any pullbacks for next few weeks with a parabolic rise to 40-45k. However, a repeat of 2015 cycle is healthier and sustainable. A repeat of 2019 cycle although can give a parabolic rise to 40-50k, it can fall back to 20k before next year having in April 2024.
With the S&P bullish bias due to the signal we got for bullish trend, we can assume buying the pull backs on bitcoin can help with a healthier accumulation.
I hope you guys are accumulating! If you need the Bitcoin prediction for the bull run after next halving in April 2024, let me know. I will publish my assumptions and forecast!
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