$BTC the bull run is NOT finished, reminder to stop FUD
2024-08-06

In another idea (check my idea), I had forecasted a -50% dump of  CRYPTOCAP:BTC , and we are close. I also highlighted that on a weekly timeframe,  CRYPTOCAP:BTC  had been oversold due to ETF hype, which forced  CRYPTOCAP:BTC  to consolidate mid-bull market to reset the MACD and RSI to lower levels, just like in 2021. 

Here was the idea:   

Additionally, this idea perfectly forecasted what is happening now:   

I also correctly predicted that all these  CRYPTOCAP:BTC  owned by external actors would have to be sold on exchanges to reach the market, negatively impacting the price action.
  

 Now, here is an updated chart to my previous idea that accurately forecasted the current situation. 

 What is coming next? 

Check the MACD. On the weekly timeframe, we are close to the same situation as in 2021 when  CRYPTOCAP:BTC  bounced back to go parabolic. The yellow line shows the level where the MACD could cross and reverse to finish this bull run successfully.

In the worst-case scenario, we might continue the downtrend pressure while the RSI and MACD reset lower.

This pressure counterbalances the bull run and is the reason why  CRYPTOCAP:BTC  does not have the energy necessary to pass over the top resistance and is ranging.

This range will continue until the weekly MACD crosses over and the RSI reaches the oversold territory.

The good news is that the more time it takes, the lower the MACD and RSI will be, the longer the final bull run will become, and the higher  CRYPTOCAP:BTC  will go.

MT.Gox, Germans, Genesis, and Grayscale have done their dumping, so the sky is getting clearer, and the sun is starting to shine.

I do not think this bull run will be canceled; there is no way it can happen. It can be delayed by external factors, but the charts are clear and clean. We are moving forward in a massive way as soon as  CRYPTOCAP:BTC  gets oversold.

From the chart, a true reversal in the trend should happen between 2 to 10 weeks.

Be patient, do not panic, do not sell your coins; your portfolio will turn back to green soon. DYOR.