Bitcoin's Next Two Years: Accumulation to Parabolic Peak

3 Agu

Bitcoin Technical Analysis: Upcoming Two-Year Cycle

Market Structure Overview

Current market structure analysis indicates that Bitcoin is in the final stages of its accumulation phase before a mini bull run. Key market structure zones and projected price targets for the next two years are outlined below:

Accumulation Phase

Current Support Zone: $57,405 - $61,302
Bitcoin is consolidating within this range, indicating strong accumulation by long-term holders and institutional investors.

Mini Bull Run

Projected Highest High: $91,236
As Bitcoin breaks out of the accumulation phase, we anticipate a mini bull run with the highest high reaching approximately $91,236. This phase is expected to be driven by increasing demand and positive market sentiment.

Correction Cycle

Main Support Zone: $47,620
Following the mini bull run, a slow correction cycle is projected to commence, bringing Bitcoin down to a main bottom support around $47,620. This correction is seen as a healthy pullback, setting the stage for the next bullish phase.

Parabolic Bullish Cycle

First Target: $139,130
From the $47,620 support zone, Bitcoin is expected to begin a parabolic bullish cycle. The first significant target in this cycle is around $139,130, marking a substantial price appreciation.

Parabolic Cycle Correction and New Targets

Maximum Target: $236,000
Following the initial parabolic run, Bitcoin is projected to undergo a correction before ascending to new heights. The absolute maximum target for this 3.5-year cycle is estimated to be around $236,000.

Macroeconomic Factors Influencing Bitcoin

Japanese Index Decline: The recent rapid decline in the Japanese index has introduced uncertainty in the Asian markets. Investors are increasingly looking for safe-haven assets, which could boost demand for Bitcoin.

US Market Sentiment: With the US markets closing in the red on Friday and gold prices reaching an all-time high, there is a growing shift towards alternative investments like Bitcoin.

Japanese Yen Weakness: The continued decline of the Japanese yen is anticipated to accelerate Bitcoin’s mini bull cycle correction. This macroeconomic trend is likely to contribute to the expected decline to the $47,000 support zone before the parabolic bullish phase.

Conclusion

Bitcoin's market structure suggests a promising outlook for the next two years, characterized by significant price movements and opportunities for strategic investments. The interplay between macroeconomic factors and Bitcoin’s inherent market cycles underscores the importance of staying informed and agile in response to evolving market conditions.