We start with the year-end forecast for Bitcoin in 2021.
On September 8, 2021, we witnessed a major trend reversal from the 12-year cycle. This was initiated with a strong two-year rise since the Corona sell-off in March 2020, suggesting a subsequent correction and recovery. We managed to navigate around the highly volatile area (marked in red), which protected us from a significant price drop and could remain the main support for the first half of the year. By October 2022, we would have several opportunities to exit the outer ring of the highly volatile area in a bullish manner. This forms the main resistance for further increases towards 100,000 dollars.
Should Bitcoin manage to stay above the 25MA until December 21st, the likelihood of a strong bullish breakout would increase.
By June 8th, 2022, the first significant subordinate trend reversal will occur. Until then, we would have the main support between 32,000 and 35,000 dollars, with resistance just below 60,000 dollars.
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