What Bitcoin needs before making new highs ? Here's what I think.
1. Bitcoin has to make support
A new support means people are not anymore disposed to sell at this level.
2. Higher Lows and Higher Highs
When we see higher lows and higher highs, it means that the Bulls are in charge. The small corrections are people taking profit, but the buyers remain stronger to push the price higher.
3. New All Time High
The last thing we need is TIME. It takes time for a market to healthily set new record prices. My guess would be anywhere near January/February 2022.
When Bitcoin climbs back to 65k (if it does), the current ATH, it might take a few weeks or even a month of sideways before we break out above and set a new ATH. This is due to people selling at they see Bitcoin being overvalued, as always.
1. Bitcoin has to make support
A new support means people are not anymore disposed to sell at this level.
2. Higher Lows and Higher Highs
When we see higher lows and higher highs, it means that the Bulls are in charge. The small corrections are people taking profit, but the buyers remain stronger to push the price higher.
3. New All Time High
The last thing we need is TIME. It takes time for a market to healthily set new record prices. My guess would be anywhere near January/February 2022.
When Bitcoin climbs back to 65k (if it does), the current ATH, it might take a few weeks or even a month of sideways before we break out above and set a new ATH. This is due to people selling at they see Bitcoin being overvalued, as always.
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