Subscribe Bitcoin's Price Patterns - A Technical Analysis Perspective Skip to main content


How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass

Bitcoin's Price Patterns - A Technical Analysis Perspective

Photo by Kanchanara on Unsplash

In today's Bitcoin price analysis, we'll explore the intricate world of technical analysis to gain valuable insights into the current state of BTC. By examining key patterns and trends, we aim to uncover potential price predictions for the future.

The recent price action of Bitcoin has been relatively uneventful, but there are several noteworthy aspects to consider. Firstly, the release of CPI data today could have an impact on the market, so it's essential to keep an eye on that development.

Zooming in on the chart, we can observe a potential ABC structure taking shape. This hypothesis suggests that following the peak on July 6th, Bitcoin embarked on an A wave down, followed by a B wave up. Currently, it appears that Bitcoin is undergoing a C wave decline.
To validate this assumption, it's crucial to monitor the level of 31,050, which represents the Monday High. As long as Bitcoin remains above this level, our hypothesis holds. However, a break above 31,150 would indicate that the B wave may be extending, potentially leading to the formation of a larger fifth wave, possibly unfolding as an ending diagonal.

It's important to remember that Bitcoin is expected to reach another high in the future, even if the immediate price action doesn't confirm it. This high might occur earlier without a lower low preceding it.

While corrective waves can extend, it's worth noting that sustained breaks above the significant resistance level of 31,150 would be unusual for a B wave. Therefore, it's essential to consider probabilities when assessing the current situation.

In summary, the technical analysis suggests that Bitcoin's price movement is currently in a critical phase. The 31,150 level serves as a key threshold for determining whether the Wave 2 has completed or if the B wave is extending. Keep a close eye on future developments as we anticipate potential price movements and the completion of various wave patterns.

More Articles Below