Bitcoin's Next Major Low Date Revealed...

When will Bitcoin hit its next major low?

I just heard some people say that they are not willing to pay $70,000 for one BTC, they say it is too expensive. Several people agreed with this same type thinking. This doesn't mean much for our technical analysis but is something to consider. There is a set of the public that is "waiting for lower prices."

To be honest, prices don't really matter as we work with percentages; prices can be misleading... But, human psychology and participants perception is still important if we want to accurately predict how a market is likely to behave.

➖ A price bounce can last between 3 to 5 days.
—Three days if the candles are big and strong.
—Five days if the candles are weak and small.

Ok... Back to the beginning, when will Bitcoin produce the next major low?

We can't say for sure but we can speculate based on past action.

It took exactly 48 days for Bitcoin to establish a major low after the all-time high.

👉 Using this number, if consider the bounce after the 1-May low to have ended 21-May, this would put the next low at around 8-July 2024.

👉 If we consider the last high to be set 7-June 2024, this would give us a date as 25-July 2024.

We are going with the 8th of July because this is the day that comes up if we consider when Bitcoin printed its latest lower high. The number can vary from exchange to exchange but using TradingView's index, the date is 21-May.

What's your take?

Let us know in the comments below.

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Namaste.

Commento:

A major crash can start anytime now... Everything closed extremely bearish on the conventional markets side (stocks, gold, etc.).

Prepare... Keep in mind that after the low is in, a major buy opportunity will develop for long-term growth. But first, the last flush... Down we go!