When will Bitcoin reach its next major low before a buying opportunity arises

The prospect of a potential Bitcoin (BTC) turnaround in the market appears to have been subdued, as indicators point to further declines in the coming days.
According to trading specialist Alan Santana, in a post on TradingView on June 23, investors should brace for a ‘significant low’ for Bitcoin before any signs of recovery.
Santana based his prediction of the timing of the next major low on historical patterns. He noted that it took precisely 48 days for Bitcoin to establish a major low after reaching its all-time high. Using this pattern, he forecasted two potential dates for the next low: July 8, 2024, and July 25, 2024.
The expert favored July 8 as the ideal date, considering when Bitcoin printed its most recent lower high. He used TradingView’s index to support his projection, which indicated that the bounce after the low on May 1 ended on May 21, leading to the July 8 forecast. If the last high is considered to be set on June 7, 2024, the date shifts to July 25, 2024.
Santana also cautioned about a potential major crash, noting that everything in the traditional market, including stocks and gold, closed extremely bearish. However, he emphasized that once the low is established, investors should anticipate a significant buying opportunity for long-term growth.
It’s important to note that Santana’s analysis was initially based on the psychological barrier some investors face with Bitcoin’s high prices. He mentioned that some investors may be unwilling to pay $70,000 for one BTC as they believe it is too expensive, although this does not directly impact technical analysis, it is a factor to consider.
Santana stressed the significance of human psychology and market participants’ perceptions in predicting market behavior, and how understanding these psychological factors can aid in accurately forecasting market trends.
At the time of reporting, Bitcoin was at $64,148, with weekly losses of almost 4% after dropping below the $66,000 mark earlier in the week. Overall, Bitcoin’s key resistance lies between $66,000 and $66,600, with significant support around $64,000 to $64,500, where the asset has found some stability. These levels remain the focus moving into the new week.