WE'RE NOT COMPLETELY OUTTA THE WOODS YET ON THIS PULLBACK BUT THAT'S IRRELEVANT FOR NOW.........THE SET UP SHOWS THAT WE'LL BE SOON TARGETING $75K-$80K AREA.
$102K IS SOON TO FOLLOW POSSIBLY BY END OF MAY, IF NOT SOONER!
$102K IS SOON TO FOLLOW POSSIBLY BY END OF MAY, IF NOT SOONER!
Once this upward counter trend line breaks it signals a resumption of the overall trend.....again, which is up.
HOWEVER, notice how much steeper this one is than the one in January. Typically you want a more stretched out (sideways) type of drop and consolidation like back in January.
This time around is quite steep and also swifter. Tells you two things: it's either gonna be retested again down to around the $40k-$42k area and shake a lot of people out
OR, 2) it may very well be the beginning of the end whereby Bitcoin starts racing upwards towards $100k, $120k and possibly even $145k which is my ultimate target for Bitcoin this year.
Can it go to $200K? $300k? YES! it certainly can.....but personally I'd start selling around that $146k area if I were you