Hello dear traders!
This idea was first published in German on February 16, 2023, at that time I spoke of reaching the marked zone 29k to 32k.
We reached this in mid-April.
What puzzled me at the time was the "sudden" sale. I expected more liquidity.
Well, sometimes you have to be patient, because I think we're in the process of forming our Peak Formation, which serves as that very collection.
Why do I believe this?
In 6 days we have now bounced aggressively off the Daily 200 EMA and have seen ~24% gains at the top.
Yes, we're talking about Bitcoin, but that's still unusual.
Complementing this, our Daily EMAs have flattened out, which is the norm in this type of construction (peak formation).
I think it is likely that here too, with the help of ETF news, liquidity will be collected / stocks will be reduced and we will see at least the 16k to 20k region again in the course of 2023.
As I said, it's a game of probabilities - I'll reconsider this opinion from a break above 34k as that would turn our EMAs bullish again.
