I suspect that BTC's inability to break through 10k decisively means one further big dump towards the weekly MA200, currently sitting at around 6k.
BTC might complete the huge triangle since late 2017 by one last move down to the support line which coincides with the weekly MA200.
However, it could also surprise us and just break through 10k after all in the next days or weeks.
Knowing BTC however, it wants to annoy as many people as possible, and a move to 6k would be definitely annoying to many.
After that, the halving will start kicking in, and become more and more noticeable, therefore pressuring the price upwards, even should the worldwide stockmarket continue to crash.
Also, inflation will rise strongly in the next years, which will also continue to fuel this rally. For me, the scenario to revisit 1200 has become more unlikely, though of course not entirely impossible.
A revisit of 6k on the other hand is indeed possible.
Target for BTC remains at least at 100k in the next years.
BTC might complete the huge triangle since late 2017 by one last move down to the support line which coincides with the weekly MA200.
However, it could also surprise us and just break through 10k after all in the next days or weeks.
Knowing BTC however, it wants to annoy as many people as possible, and a move to 6k would be definitely annoying to many.
After that, the halving will start kicking in, and become more and more noticeable, therefore pressuring the price upwards, even should the worldwide stockmarket continue to crash.
Also, inflation will rise strongly in the next years, which will also continue to fuel this rally. For me, the scenario to revisit 1200 has become more unlikely, though of course not entirely impossible.
A revisit of 6k on the other hand is indeed possible.
Target for BTC remains at least at 100k in the next years.
Kommentera:
A break to the upside got a lot more likely now. If 10.5k falls, we are good to go for new ATHs.