• 10x Newsletter
  • Posts
  • 🚀 Wave 4 Started – How low will Bitcoin drop?

🚀 Wave 4 Started – How low will Bitcoin drop?

👇 1-10) In our Dec 29 note, ‘How should traders position themselves in the uncertain ETF approval period’, we featured a triangle pattern that tends to predict a +/-10% move in either direction. While we got the rally, this triangle pattern often indicates a retracement back to the breakout (44,000).  

👇 2-10) On the first Bitcoin ETF trading day, when inflow expectations were high, Bitcoin rallied to 48,500, the projection from the triangle break-out and the 2-3 year average price level for investors and is often seen as resistance.

👇 3-10) Bitcoin has also seen significant retracements after the December 2017 Bitcoin Futures launch, the Coinbase listing in April 2021, and the October 2021 Bitcoin ETF based on the Futures launch. It is, therefore, expected to see some market fatigue.

Subscribe to Premium Membership to read the rest.

Become a paying subscriber of Premium Membership to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In

A subscription gets you:
Receive concise, unrivalled informative crypto trading strategy reports (2-4x per week).
In just 10 paragraphs, unraveling the complexities and market structure of crypto and its dynamic landscape.
Insights into the intersection of crypto, regulations, macroeconomic trends, and policy shifts.
Apply to join subscriber ONLY Telegram Group. (Please read our Terms and Conditions and Disclaimer @ www.10xResearch.co))