Bitcoin always goes down!

It's finally happening, our orders will soon be filled.

For those who missed the last analyses, you can catch up here.

BRIEF REVIEW:

• The Gann year-end analysis from January 6th predicted $23,500 by June 8th. You can find the analysis [here].
• In March, we analyzed that a bullish scenario has a very low probability. You can find that analysis [here].
• On May 8th, we looked for a bear scenario similar to past events and found the 2018 event to be the closest match. The analysis is available [here].
• On May 29th, the trend reversal was examined again in detail. That analysis can be found [here].

We start with the probability of a bottom formation at the 200 MA from the weekly chart.

This is currently at $22,315, just above the ATH from 2017/18. Bitcoin has never been this close to a former ATH before, which alone suggests that things could turn out quite differently this time. At the very least, we should prepare ourselves to avoid any nasty surprises.

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From a superior Gann perspective, we are just above a counteracting support fan at $23,500. This should not be overstressed, otherwise, we'll see Bitcoin in the highly volatile area with the first buy zone at $17,722 - $15,423. Piercing through the 200 MA from the weekly chart would catapult us into this extreme area, likely triggering a strong buyback.

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If we stay above this fan, according to Gann's rules, Bitcoin would continue to move in this fan range until March 2023 and possibly only reach $17,722 by July 2023. The range is capped at $30,000 upwards with a descending angle.

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Here you can find the last TA Late Night Show where we discuss this topic in detail.

We wish you success in the bear market.

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