Bitcoin wicked down to $40,800 during November, shocking traders and causing extreme fear. With that, came Technical Indicators alerting us to the fact that #Bitcoin was extremely oversold. RSI hit previous support it had when it fell to $30,000 over summer. #Bitcoin is highly resilient and on-chain indicators, supply, historical data, TA. and fundamental analysis, are screaming that #Bitcoin will continue onwards towards $100,000 and maybe even well past that by next summer. Certainly, I don't have a crystal ball and ANYTHING could happen so, this is merely my opinion based on analytics, confluences, and discussion amongst others. This is NFA (Not financial advice)...
Bitcoin is going to $150K+ by July '22.
Why?
- Bitcoin/USD is showing great buy volume on the weekly chart. The bottom seems to have formed near the $40K region (due to liquidation mostly).
- Shorts are get destroyed right now, expect a squeeze to push us past key levels of resistance
- BTC/USD showing signs of reversal
- BTC/USD chart details support and key levels where $BTC has bounced
- RSI SMA 14 details simple moving average which $BTC has not fallen below after a rally from the bottom during halving cycle... KEY LEVEL TO WATCH!
- RSI has same levels of support as BTC/USD and is showing signs of reversal as well
- RSI showing extremely oversold at $40-44K area
- Remember, RSI works as a leading indicator... we are just getting started
- Market sentiment has improved... F&GI* reaching "fear" levels
- WEEKLY MACD showing possible convergence of of bullish cross in coming months
- 1D MACD has already signaled a bullish cross... we are far from seeing a bearish cross. I would expect one closer to next summer unless there is FUD
Overall, Bitcoin is extremely oversold and 2022 will bring new opportunities for crypto markets (regulation, adoption, awareness, and most importantly, time).
DESTINY ARRIVES ALL THE SAME.
MERRY CHRISTMAS!
PS. Refer to my links to related ideas below to see how these predictions have played out so far :) Enjoy!
*F&GI: Fear & Greed Index
Bitcoin is going to $150K+ by July '22.
Why?
- Bitcoin/USD is showing great buy volume on the weekly chart. The bottom seems to have formed near the $40K region (due to liquidation mostly).
- Shorts are get destroyed right now, expect a squeeze to push us past key levels of resistance
- BTC/USD showing signs of reversal
- BTC/USD chart details support and key levels where $BTC has bounced
- RSI SMA 14 details simple moving average which $BTC has not fallen below after a rally from the bottom during halving cycle... KEY LEVEL TO WATCH!
- RSI has same levels of support as BTC/USD and is showing signs of reversal as well
- RSI showing extremely oversold at $40-44K area
- Remember, RSI works as a leading indicator... we are just getting started
- Market sentiment has improved... F&GI* reaching "fear" levels
- WEEKLY MACD showing possible convergence of of bullish cross in coming months
- 1D MACD has already signaled a bullish cross... we are far from seeing a bearish cross. I would expect one closer to next summer unless there is FUD
Overall, Bitcoin is extremely oversold and 2022 will bring new opportunities for crypto markets (regulation, adoption, awareness, and most importantly, time).
DESTINY ARRIVES ALL THE SAME.
MERRY CHRISTMAS!
PS. Refer to my links to related ideas below to see how these predictions have played out so far :) Enjoy!
*F&GI: Fear & Greed Index
