I'm not going to lie, I see flags everywhere and I see Bitcoin tremendously bullish so I'm updating my forecasts in this post.
I have to warn that what I have posted is a high risk speculative play so please don't take any of this seriously. Simply as a situation that is likely to occur.
Bitcoin broke above the bullish flag pattern that formed over the last 3 weeks. So ladies and gentlemen, all signs indicate that we are again facing a very likely bullrun that, if it happens, is going to last until the end of the year and will take the Bitcoin price to my targets of $74.000 and $75.000.
Only one last resistance remained before BTC enters its parabolic phase of the cycle, $67.000. But after breaking this resistance with strong volume, my bullish forecasts have improved significantly and I have modified my bullish setup. Now it's all flags and the FOMO begins.
The bulls have taken control for now and I highly doubt they are going to back off right now. We will see only the usual breathers, unless some drastic news is released on the regulatory front, which is always the wild card that a bull market depends on...
Having said all this, I have set my target at $75.000 as Bitcoin (BTC) has the potential to rise to that area by the end of the year, It has just broken out of a classic bullish pattern and continues to accumulate additional bullish signals from the recent run of accumulation by its wealthiest investors.
According to data compiled by Santiment, whales (i.e., individuals holding wallets with balances between 10,000 BTC and 100,000 BTC) have accelerated their buying spree and have accumulated about 92,000 BTC over the past 25 days. These purchases made between the $60.000-67.000 zone are clear symptoms that they have anticipated the bullrun and have accumulated a lot in that range so they will not let the price drop until at least the end of the year
¡Thank you very much for your time and good luck to all of you!
DISCLAIMER
The information contained herein is for information purposes only and does not constitute an investment recommendation, nor an invitation, offer, solicitation or obligation on my part to carry out any operation or transaction.
I have to warn that what I have posted is a high risk speculative play so please don't take any of this seriously. Simply as a situation that is likely to occur.
Bitcoin broke above the bullish flag pattern that formed over the last 3 weeks. So ladies and gentlemen, all signs indicate that we are again facing a very likely bullrun that, if it happens, is going to last until the end of the year and will take the Bitcoin price to my targets of $74.000 and $75.000.
Only one last resistance remained before BTC enters its parabolic phase of the cycle, $67.000. But after breaking this resistance with strong volume, my bullish forecasts have improved significantly and I have modified my bullish setup. Now it's all flags and the FOMO begins.
The bulls have taken control for now and I highly doubt they are going to back off right now. We will see only the usual breathers, unless some drastic news is released on the regulatory front, which is always the wild card that a bull market depends on...
Having said all this, I have set my target at $75.000 as Bitcoin (BTC) has the potential to rise to that area by the end of the year, It has just broken out of a classic bullish pattern and continues to accumulate additional bullish signals from the recent run of accumulation by its wealthiest investors.
According to data compiled by Santiment, whales (i.e., individuals holding wallets with balances between 10,000 BTC and 100,000 BTC) have accelerated their buying spree and have accumulated about 92,000 BTC over the past 25 days. These purchases made between the $60.000-67.000 zone are clear symptoms that they have anticipated the bullrun and have accumulated a lot in that range so they will not let the price drop until at least the end of the year
¡Thank you very much for your time and good luck to all of you!
DISCLAIMER
The information contained herein is for information purposes only and does not constitute an investment recommendation, nor an invitation, offer, solicitation or obligation on my part to carry out any operation or transaction.
