If this happens, then the upside can exceed 40-50k easily, reaching a peak as high as 240 to 360k over time, by late 2020.
Bakkt is seeing an increasingly strong trend, which was what I wanted to see for a bottom to materialize.
The fall was caused by short sellers most likely, who shorted in the face of low volumes after Bakkt launch -which seemed to indicate that the expected institutional demand was a hoax, and never happened, making aspirations a mistake...-.
Clearly, traders profited from this move, but there is now evidence that their initial conjecture was erroneous, which we will know over time, as Bakkt volumes increase more and more as a sign of instutional demand, seeking secure real #BTC ownership.
Target hit for the 2D signal, next step is to hold over the cyan box on chart, and trigger a new biweekly timeframe bullish trend. Clearly shorts are being squeezed, and the lower liquidity during the weekend will likely make things worse for them. Monday will open dramatically higher, forcing any remaining CME shorts to cover as well, pushing this thing higher I bet. We'll see...HODL.
A viable guess.