Analysis of Bitcoin's Future Scenarios: Triple Top or Drop to 80K?

Date: 11/12/2024, 17:56 PM

Bitcoin will likely drop from its current price of 100K, aiming below 90,000 dollars. We believe that the 101,000-dollar level is a liquidation zone that whales will not be able to ignore. These liquidations will be significant enough to impact Bitcoin's price, causing it to drop below 90,000 dollars.

Market Phases and Our Perspective

In the markets for assets like Bitcoin, price movements tend to follow three distinct phases:

1. Phase 1: Bullish (Uptrend) – In this phase, the asset experiences strong upward momentum, reaching new highs. During this phase, demand is high, and confidence is strong, but the growth is often unsustainable over the long term.

2. Phase 2: Corrective and Accumulative – After a prolonged bullish phase, the asset enters a correction period. During this phase, investors often accumulate more assets as prices drop, looking for better entry points.

3. Phase 3: Bullish (Breakout) – Once the correction phase concludes, the asset resumes its uptrend, breaking past the previous highs established in Phase 1, setting new all-time highs.

We believe Bitcoin is currently in Phase 1 and nearing the end of this bullish cycle. The correction we expect will take Bitcoin below 90,000 dollars, marking the beginning of an accumulation phase. During this period, investors will position themselves for the next rally, where BTC is likely to surpass the all-time highs established in Phase 1.

Conclusion

Regardless of whether BTC reaches 100K or surpasses it, we believe a drop below 90K is imminent. There’s no need to panic; corrections are normal in market cycles. The Phase 3 rally, driven by accumulation and capital influx, will push Bitcoin to new all-time highs.

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Disclaimer:
The content of this article is for informational purposes only and does not constitute financial advice, investment recommendations, or a suggestion to buy or sell assets. Cryptocurrencies and digital assets are highly volatile and may involve significant risks. Always conduct your own research (DYOR) and consult with a professional financial advisor before making investment decisions. The author and the website are not responsible for any loss or damage that may arise from investments based on the information provided.