My opinion. We are no doubt in boubble. Simply by boubble theory phases smart money went into BTC 3.42% around 1k usd or less - that makes fibo my entry point. So if you measure fibo from 1k to ATH -0.52% you get nice resoult. 5k is wery important number fot BTC 3.42% for several reasons:
1. It makes perfect fibo retracement for BTC 3.42% (usulay it bounces bach from that fibo retracement level)
2. It is enormous support from las year (horizontal support)
3. It perfectly fits with descending triangle lower supports
4. At this daily RSI level we have enough space to go to approx 5k
5. MACD levels at higher time frames confirm uptrend at this level
6. BTC/USD Shorts are on high level and just enough space to let price even lower
7. again by boubble theory we will be at next drop at panic/capitulation phase - so buy when blood is on street
8. mining cost for one btc 3.42% should be about 4-5k - so lower is kind of destruction od BTC 3.42%
and some more minor indicators to conform that theory
Now do I think that price will go exactly to 5k?
I dont think so. Probably we will bounce before that so bears waiting for 5k will be reckt.
How will I play that?
Probably best way to do this is ladder buy about 5800 usd and down to average down BTC 3.42% cost.
Lighter buyng at 5800 - 5500 level, way more sub 5500, and shitload of BTC 3.42% a little under 5k to catch wick if it pirce 5k mark for short time.
1. It makes perfect fibo retracement for BTC 3.42% (usulay it bounces bach from that fibo retracement level)
2. It is enormous support from las year (horizontal support)
3. It perfectly fits with descending triangle lower supports
4. At this daily RSI level we have enough space to go to approx 5k
5. MACD levels at higher time frames confirm uptrend at this level
6. BTC/USD Shorts are on high level and just enough space to let price even lower
7. again by boubble theory we will be at next drop at panic/capitulation phase - so buy when blood is on street
8. mining cost for one btc 3.42% should be about 4-5k - so lower is kind of destruction od BTC 3.42%
and some more minor indicators to conform that theory
Now do I think that price will go exactly to 5k?
I dont think so. Probably we will bounce before that so bears waiting for 5k will be reckt.
How will I play that?
Probably best way to do this is ladder buy about 5800 usd and down to average down BTC 3.42% cost.
Lighter buyng at 5800 - 5500 level, way more sub 5500, and shitload of BTC 3.42% a little under 5k to catch wick if it pirce 5k mark for short time.