BTCUSD seems to be in a pullback phase of its second setup bull leg. The first bullish impulse leg got retraced around 85%, same retracement level applied to the current bullish leg lands us around $3200. Judging from the previous behaviour of this pair, if its historical dynamics are repeated, the ultimate demand area can be expected around $3500-$4500. If the current support around $5750 breaks and bears feel like they have full control, an orchestration of a "bear trap" and heavy accumulation is highly likely to take place and this will in turn provide the required momentum for the third bullish impulse leg into the new highs.
The pump phase is being ridiculed by many in the chat. The +700k plus is an overstretch it seems, but 300k seems doable.
Deep-Peat-Shark
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@Zoen_Trieste, I think you are right with 200k as support there. Nice work, thanks for sharing.
One year ago I predicted something similar, although partly, I wasn't aware of quite a few things around BTC yet. This year I figured my prediction was not that off at all. The bear trap might even dip below $1000 I reckon.
Zoen_Trieste
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@ArnaudKleinveld, thanks for the feedback! Best of luck in your endeavors.
Thanks a lot for sharing.
Namaste.