BTC analysis (Long Term) - Nov 11 2024
2024-11-12

#BTC analysis (long term)

BTC has been rising since 15,000 zone and after months of consolidation since March, it has reached 87,000 zone now.

Considering the price range of the consolidation phase, BTC is currently in a tough resistance zone (82,500 - 88,000) where it will probably stop its recent parabolic rise for a while.

Given the wide gap that has appeared on BTC CME futures chart and also the broken ATH zone of 73,000 , BTC will probably spend some days dropping towards the previous ATH.

The maximum target for the rise since 15,000 is the area of 104,000 - 128,000 . But if BTC manages to stay above 128,000 level for a couple of weeks, then crazy targets of 250,000 - 300,000 will be activated.

Upon reaching the 104,000 - 128,000 zone, probably a big bearish weekly divergence will have appeared on the chart that if confirmed, will result in a -50% to -60% drop (as the great C wave) and then the mega bull run (similar to 2017) will begin.