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Table Of Contents:

Which way forward?

Photo Credit @BitcoinPierre

The worst mistake is to bottom fish and it goes lower. Better to wait for stabilization. Good entry points are like MA35 (4-Hour) or MA35 (Daily)

Previous Pre-Parabolic Dips analysis

Analysis of previous Dips before Parabolic Phase:

• 2011: $8.85 -> $5.59 (-36.84%)
• 2013: $213.67 -> $166.37 (-22.14%)
• 2017: $4,971 -> $2,977 (-40.12%)
• 2024: $73,794 -> $49,647 (-32.72%)

Putting things into perspective, this is not the worst dip before parabolic phase but 2nd best (in case it doesn't go lower).

March to August Range

BTCUSDT Daily chart. After going past the range lows for the range established since March 2024. My take, we go up.

Support Convergence

1. Moving Average Step-Down support: A support line drawn touching all the support lines shows that we are at support.
   1. 1st Wick on 17th March 2024 getting support at EMA5 (weekly)
   2. 2nd Wick on 14th April 2024 getting support at EMA10 (weekly)
   3. 3rd Wick on 28th April 2024 getting support at SMA20 (weekly)
   4. 4th Wick on 30th June 2024 getting support at SMA35 (weekly)
   5. 5th Wick on 4th August 2024 getting support at SMA50 (weekly)
2. Parabolic SAR End-of-Trend Level: Comparing the level of the last Parabolic SAR before crossing EMA20 (Weekly) i.e. $51,398, then select Candle at that level i.e. Weekly Candle on 25th Feb 2024 then select preceding candle using the following criteria (If a Bull Candle select High and if a Bear Candle select Low) we find weekly candle on 18th Feb 2024 with low of $50,501
3. Fib Levels - Parabolic Quadrant Resistance-turned-Support:

CME Gap Zone

CME Gap: Difference between Friday close and Monday Open. We had an initial gap on 12th July @ $57.9K and now a new one 2nd August @ $62.9K. This creates a unique and rare CME Gap zone. Most CME gaps tend to get closed. They're like a debt on Price Action. The beauty of now unlike previously (i.e. last 2 weeks of July) is that they're all above the price thus creating an upward pull of price. Get ready.

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