Bitcoin Market Analysis

Get ready. Bitcoin will follow Tech/NQ as the Reversion Rally takes place over the next 4+ months (probably lasting well into Q1:2023). We expect Bitcoin to rally to above $29k – possibly reaching as high as $35k. Our research suggests the US/Foreign markets are about to enter a Reversion Phase (rally trend). This is happening after nearly 12+ months of global/US selling pressure. Bitcoin should follow the Tech/NQ Sector higher over the next few months.

We should be looking for proof of this bottom/base over the next 4+ or more weeks. We need to see recent lows hold up. And also a moderate rally take place before November 12th.

This could be a decent rally for the US/NQ/Foreign markets; If the US Dollar slides sideways/downward.

At present, there is a false breakout. However, we aren’t bullish yet. We are still in a bearish downtrend and yet to reach bottom. The bear market isn’t over yet. Since the resistance downtrend target hit; We be looking forward to seeing more downtrends than the big fall.  The bottomed target is down to 10K. But the first target is down to 17K area then breakdown to go lower.
It’s still volatile. So don’t fall for trap bull price.

Thanks for reading and don’t forget to share. Equally read our Smart mining review.