BTC Realistic Bullish Scenario Outcome for this Cycle
Hi everyone,
My chart really explains it - we're likely in a falling wedge with the obvious bull trap in early Nov and bear trap just a few days ago. Market is looking reasonably healthy as this whole rally has been pushed by spot trades. Note the RSI reflects my falling wedge perfectly in the price chart. We really should see it break out before December 12th - higher chance to the upside according to this idea.
I don't see $100k this year but I do see mid $80k as a top for 2021 before the next leg up in February which should be our blow off top. Then again this is crypto so who knows what will happen. Obviously I'll reassess my analysis as we go along but my gut instinct is telling me this is the likely scenario to play out. But because everyone is expecting $100k this year, I don't see the MM's letting it happen. And because everyone expects $200k by Feb or March next year, I also don't see that playing out.
In any case, just get a strategy ready at hand and be smart. Don't be stupid with your hard earned fake internet money.
Will be fun to see how close (or far away?) I am :D
My chart really explains it - we're likely in a falling wedge with the obvious bull trap in early Nov and bear trap just a few days ago. Market is looking reasonably healthy as this whole rally has been pushed by spot trades. Note the RSI reflects my falling wedge perfectly in the price chart. We really should see it break out before December 12th - higher chance to the upside according to this idea.
I don't see $100k this year but I do see mid $80k as a top for 2021 before the next leg up in February which should be our blow off top. Then again this is crypto so who knows what will happen. Obviously I'll reassess my analysis as we go along but my gut instinct is telling me this is the likely scenario to play out. But because everyone is expecting $100k this year, I don't see the MM's letting it happen. And because everyone expects $200k by Feb or March next year, I also don't see that playing out.
In any case, just get a strategy ready at hand and be smart. Don't be stupid with your hard earned fake internet money.
Will be fun to see how close (or far away?) I am :D