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!
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Notice how the (blue) counter trend line broke in January and how it's also breaking now......the counter trend line (counter to the main trend which in this case is UP obviously) is the strongest indication that the pullback is over.
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