It looks like our global analysis is the most accurate from all type of our analysis.
Large timeframes in the analysis show a clear trend and most importantly, they get rid of “unnecessary noise”, which can throw off the correct opinion and an unemotional view of the market.
The value of Bitcoin has been falling steadily for 3 months, the price of BTCUSDT has fallen 52% from the high and reached the top target according to the BTCUSD forecast of 10/19/2021.
The $3,500-33,000 range is a major tipping point in the long term
Let’s consider some possible variants of events in the future:
1. A negative scenario (red arrow) – the sellers will sell the price of BTCUSDT below $30,000, they will break out stops and then the price of BTC may spill down to $23800 in one wave. Such a scenario would fill the GAP formed back in late 2020.
2. Positive-negative (white fractal ) – the price movement according to this fractal predicts the growth of BTCUSDT price up to $56500 (also the fractal hints at possible break out of stops up to $31500 before the growth). Around $56500 will decide the future of crypto market: to go on and renew last year’s high or a sharp drop to $12-14k. Fractal indicates a possible collapse of the crypto market in spring 2022, how it will be unknown – this is just a guess. However, we know that US Fed is accelerating the pace of winding down its asset-purchase program, which actually opens the door for an earlier interest-rate hike – as early as spring 2022.
3. A Positive scenario – after the Bitcoin price reaches the white fractal of $56500, the maximum possible correction will be in the area of $44500. And then a continuation of parabolic growth and the possibility of seeing a BTC price of $110k+ by mid-summer 2022.