BTC Soo Bearish that its bullish. Price Target of 600K by 2025?
Please do your DD as this is not an investment advice.
This could be the most ridiculous price prediction considering current world events but before we dismiss it outright, lets go through it step by step together.
First looking at 2013 to 2015 bear market then comparing it with the 2021 to this present day we can see similarities with both correction (provided the current ABC seems to be a flat correct)
Second, if we look through the same time above, we see that A wave bounces on the 50 EMA, breaks below, back test then finds support on the 200 SMMA
Comparing the current bear market to what was discussed above, we can see so far we have done exactly the same (provided the current ABC seems to be a flat correct)
If we are to follow the path in the 2013 to 2015 we need to go test the 50 EMA, get rejected then test the 200 SMA for support one more time before we head higher. (We need to watch this carefully)
Another thing to consider is the time it took (for the 2013-2015) and currently taking for this current correction.
Now lets talk about fundamentals for why we could rally to new highs.
We can look to the current currency issues with the bank of England and Japan, with the BOE starting QE again. As Peter Schiff said in his tweet today, which country is next? You can rest assure if the British and Japanese economies are struggling then they are more shoes to drop
The fed has also printed ~40% of the US currency in the last few years, which is dilution and should cause the dollar to fall in the long run. Yet the dollar is acting like a meme stock (just looks at the chart), pumping after being diluted by almost 50%
Bitcoin was started during world financial chaos and it should thrive in this chaotic time as people start to see their purchasing powers reduce due to inflation and currency losing its value
But why the PT of about 500K? Well if you look at the fractal and Cathie wood has been screaming BTC is headed to 500k if institutional investors move into Bitcoin and allocate 5% of their portfolios,” the price of the cryptocurrency would soar to about $560,000 by 2026)? what better time for them to buy with all the chaos in the world right now (and maybe yet to come)
This could be the most ridiculous price prediction considering current world events but before we dismiss it outright, lets go through it step by step together.
First looking at 2013 to 2015 bear market then comparing it with the 2021 to this present day we can see similarities with both correction (provided the current ABC seems to be a flat correct)
Second, if we look through the same time above, we see that A wave bounces on the 50 EMA, breaks below, back test then finds support on the 200 SMMA
Comparing the current bear market to what was discussed above, we can see so far we have done exactly the same (provided the current ABC seems to be a flat correct)
If we are to follow the path in the 2013 to 2015 we need to go test the 50 EMA, get rejected then test the 200 SMA for support one more time before we head higher. (We need to watch this carefully)
Another thing to consider is the time it took (for the 2013-2015) and currently taking for this current correction.
Now lets talk about fundamentals for why we could rally to new highs.
We can look to the current currency issues with the bank of England and Japan, with the BOE starting QE again. As Peter Schiff said in his tweet today, which country is next? You can rest assure if the British and Japanese economies are struggling then they are more shoes to drop
The fed has also printed ~40% of the US currency in the last few years, which is dilution and should cause the dollar to fall in the long run. Yet the dollar is acting like a meme stock (just looks at the chart), pumping after being diluted by almost 50%
Bitcoin was started during world financial chaos and it should thrive in this chaotic time as people start to see their purchasing powers reduce due to inflation and currency losing its value
But why the PT of about 500K? Well if you look at the fractal and Cathie wood has been screaming BTC is headed to 500k if institutional investors move into Bitcoin and allocate 5% of their portfolios,” the price of the cryptocurrency would soar to about $560,000 by 2026)? what better time for them to buy with all the chaos in the world right now (and maybe yet to come)
Trade active:
Comment:
Lets see if it holds
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Time to go test the 50 EMA?
Trade active:
confirmation of the new bull market will be if we closed the week green. As stated above we need to watch that carefully. Fingers crossed.
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working closely so far
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This is probably what we are going to see with BTC
Comment:
headed to 51k?
