Been talking since last year about the worst case (red): 8 years away from next ATH
The most bullish case would be the black scenario.
Honestly, I cannot be bullish if I see the monthly chart.
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How can you be super super short term and mid term bullish here. Best case is the 2024 mini pump.
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Or even this harmonic pattern..but anyway, i don't see any ath anytime soon in the next 2 years.
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Here how the RCI lines indicator could resolve.
Note: 1) when Red goes down in that specific way, along with the green and white lines = further dump incoming. That could resolve in 2 months. 2) When white and green lines are at the bottom we usually see a red line pump (=first not sustainable price reaction). It usually takes 2 red lines pumps with green and white at the bottom before starting a true new sustainable bullish cycle pump.
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This is another simply representation of what we could expect.
- Macro higher low end of year (with some small pumps in between) - Up first half of 2024 - Down second half of 2024+2025 (with some small pumps in between) - Macro lower low end of 2025 - Up
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