By the end of October, there should be a major pullback #BTC
This big BTC has been rising since mid-August.
It’s been up for about three months.
The bottom price has increased by 50%+.
According to past cycles, when the bull market starts—when prices were low—there usually needs to be about a 100% rise from the bottom before a major pullback.
But this time, we actually haven’t dropped that much yet.
From 12.6w down to 5.7w, the retracement is over 50%.
Now the bottom has come back to 50% again.
Many people—if they bought around the 6w range I mentioned earlier—then this move is basically a 50%+ gain.
And most of those who only DCA’d gradually have also returned to breakeven now.
So, it’s again the stage where buying power starts to dry up.
It’s a time period with a lot of profit-taking.
Therefore, based on the data system’s inference,
around late October,
there should be a relatively large pullback.
At least it should retrace about half—or one-third—of the profit from the 50%+ rally.
Roughly 15%~25%.
Let’s witness it together with time.
However, in the short term, the weekly chart may still move upward a bit.
Let’s see if it can break above the prior high of around 8.7w.
If it breaks, then we’ll form a double-top scenario.
And the altcoins that got pumped along the way can then be used to exit.
Personal view—sharing original content without selfish intent isn’t easy.
If you found this helpful, please like and follow—Bi 500.
Bravely enter the crypto world without getting lost.
This big BTC has been rising since mid-August.
It’s been up for about three months.
The bottom price has increased by 50%+.
According to past cycles, when the bull market starts—when prices were low—there usually needs to be about a 100% rise from the bottom before a major pullback.
But this time, we actually haven’t dropped that much yet.
From 12.6w down to 5.7w, the retracement is over 50%.
Now the bottom has come back to 50% again.
Many people—if they bought around the 6w range I mentioned earlier—then this move is basically a 50%+ gain.
And most of those who only DCA’d gradually have also returned to breakeven now.
So, it’s again the stage where buying power starts to dry up.
It’s a time period with a lot of profit-taking.
Therefore, based on the data system’s inference,
around late October,
there should be a relatively large pullback.
At least it should retrace about half—or one-third—of the profit from the 50%+ rally.
Roughly 15%~25%.
Let’s witness it together with time.
However, in the short term, the weekly chart may still move upward a bit.
Let’s see if it can break above the prior high of around 8.7w.
If it breaks, then we’ll form a double-top scenario.
And the altcoins that got pumped along the way can then be used to exit.
Personal view—sharing original content without selfish intent isn’t easy.
If you found this helpful, please like and follow—Bi 500.
Bravely enter the crypto world without getting lost.
