Are we going to go lower?


As you all know, $74k was my number and after a long fought battle, we lost that level and we have to adapt.
That's the game.
I still very much believe, however, that this is a mid cycle correction, for all the data I consistently post.
Right now the weekly looks mixed, with what is currently looking like an underside retest of the Weekly close levels lost below $65,000, but with a bounce from the 200SMA.
However, If we close like this, I think there is a decent possibility it opens up the door for the Realised Cap, at $54k, to be tested.
But I personally believe that is the lowest we see, if we see it.
We have our weekly bull div working away and a very large number of the onchain metrics i track are now at extreme levels, in the fastest time ever.
Irrespective of any lower, this is peak opportunity in which Bitcoin only trades around this level of value for less than 7% of its time.
I truly believe we are going to see a recovery close to ATH by the end of the year, and we will front run the very expected October bottom.
BTC-0.37%
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