Since July we've been in a roughly three month cycle following a trend line that, if repeated a third time, should put $80k-$90k in play by the second half of January. Some key points to watch for have been indicated on the chart. First will be a break through and re-test of the psychological $60k level. Once through that, we will need to break the ATH and re-test it for support. Assuming we don't get stuck there, I would expect to see a new ATH of between $80k-$90k sometime in the second half of January.
The counter analysis to this would be if we are unable to break through the aforementioned psychological levels. In this case, I expect to see prices slowly fade back down to previous volume areas around $45k-$50k before another attempt.
The counter analysis to this would be if we are unable to break through the aforementioned psychological levels. In this case, I expect to see prices slowly fade back down to previous volume areas around $45k-$50k before another attempt.
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