In one of his latest YouTube videos, trader Mauro Caimi offers a technical perspective on
what could happen to Bitcoin in the coming days and weeks.
With CME Bitcoin futures setting new records and surpassing Binance volumes, the market is facing a very interesting cyclical structure that could point to significant moves ahead.
Cyclical market close?
The BTC futures chart on the CME shows a three-wave cyclical structure that appears to be approaching closure. This could indicate the formation of a low in the coming days, marking the end of a quarterly cycle.
From this point, Bitcoin may attempt to rally and enter a new bullish phase. Last week, which started in the red, could be part of this dynamic, as the market prepares to close the quarterly cycle and take long positions for the next quarter, which could lead to 2023 highs. So, in Mauro Caimi’s opinion, yes, there are still chances for a Christmas rally on Bitcoin.
Why the cycle close could be a buy the dip
The 36.5k-36k area could represent a short-term buy the dip opportunity, giving investors potential momentum to enter the market.
If Bitcoin were to break down in this area, it could signal the end of the quarterly cycle, making long positions attractive.
However, it is important to note that these are predictions based on technical analysis and
should not be taken as financial advice.
You can follow Mauro Caimi’s crypto market analysis on his social media channels:
- TELEGRAM: https://t.me/TradingOnBitcoin
- TWITTER https://bit.ly/2RqX9Uk
- INSTAGRAM: https://bit.ly/3POnZ2e
- LINKEDIN: https://bit.ly/3qUdfVf
- FACEBOOK https://bit.ly/2ABJ63Z
- Sito: https://bit.ly/2FwITSG
- TRADINGVIEW: https://bit.ly/362ohPz
- YOUTUBE : https://bit.ly/2SOGRRW
This article does not constitute financial advice. The opinions and analysis presented are based on technical interpretations and do not guarantee specific results. Investors are advised to conduct their own research and to carefully consider their objectives and risks before making any investment decision.