Bitcoin Decade-Old Cycle Indicates Bear Market Territory: A Sequence Of 5 Events To Expect (Downgrade)

Summary

• A bearish development is potentially set in motion by the confirmed head-and-shoulders pattern.
• Bitcoin has crossed its minimum 1-year bull market mark (maximum 1.5 years) and is closely tracking its 2021 bear market setup in both price action and timing.
• The negative real GDP growth in the US adds another layer of bearishness that an improvement in sentiment alone can't be easily offset.
• We expect a very particular sequence of five events to occur in the bear market, which results in these key levels for high-probability trades: $88,000, $55,000, $33,000, and $16,500.
• Our current action plan is to liquidate our Bitcoin portfolio in its entirety over the next few months.

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Introduction

Due to our busy schedule, it has been a while since we last published our work. Even then, we felt the need to disseminate our findings due to the potentially massive implications of Bitcoin's current price

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.