BTCUSD - What could happen before 2022
TLDR: Price could create a new ATH before 2022, and if so, you can expect a correction at the 3rd quarterly pivot resistance ~78k, if price manages to reach that far.
Long term trend is bullish indicated by the start of the impulse wave at 27/07/21, with the current swing being a long impulse wave 1 or short impulse wave 2 or 4 (whichever timeframe you’re looking at).
If you believe that the short term trend for BTCUSD is bearish, then you can expect a reaction at the ~48k demand zone, and in more unfortunate scenarios, a break and then a move towards the ~42k and ~31k demand zones, where you can expect even more reactions and breakdowns.
If price reaches supply zone of ~64k, expect a reaction and a potential break to the upside to a target at the 3rd quarterly pivot resistance at ~78k before 2022. This would require significant movement. This push can be seen as the first, third, or fifth impulse wave (whichever timeframe you’re looking at and where price reversed to the upside).
TA will need adjusting if price breaks to the downside of the ~31k demand zone, &/or when 2022 begins.
Long term trend is bullish indicated by the start of the impulse wave at 27/07/21, with the current swing being a long impulse wave 1 or short impulse wave 2 or 4 (whichever timeframe you’re looking at).
If you believe that the short term trend for BTCUSD is bearish, then you can expect a reaction at the ~48k demand zone, and in more unfortunate scenarios, a break and then a move towards the ~42k and ~31k demand zones, where you can expect even more reactions and breakdowns.
If price reaches supply zone of ~64k, expect a reaction and a potential break to the upside to a target at the 3rd quarterly pivot resistance at ~78k before 2022. This would require significant movement. This push can be seen as the first, third, or fifth impulse wave (whichever timeframe you’re looking at and where price reversed to the upside).
TA will need adjusting if price breaks to the downside of the ~31k demand zone, &/or when 2022 begins.
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