Bitcoin/USD rate (January 2021 through April 2023)
Low: $2k - $4.5k - $7k - $15k
High: $55k - $64k - $73k - $86k
I'm going to go against the grain with an idea that bitcoin could take everything away from us after a year of glory. I've tried to keep this idea as simple as possible so the fibonacci I provided may not correlate perfectly either.
I'm not 100% sold that the top is in, but I'm also not sold that the crash won't be of epic and devastating proportions. After all, crypto is known for its volatility, isn't it?
This could obviously be very wrong but I just see a few things in the trend lines that concern me in the medium to long term, but maybe my worries are unwarranted. Only time will tell! This could be VERY wrong and I am absolutely not denying that.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: $2k - $4.5k - $7k - $15k
High: $55k - $64k - $73k - $86k
I'm going to go against the grain with an idea that bitcoin could take everything away from us after a year of glory. I've tried to keep this idea as simple as possible so the fibonacci I provided may not correlate perfectly either.
I'm not 100% sold that the top is in, but I'm also not sold that the crash won't be of epic and devastating proportions. After all, crypto is known for its volatility, isn't it?
This could obviously be very wrong but I just see a few things in the trend lines that concern me in the medium to long term, but maybe my worries are unwarranted. Only time will tell! This could be VERY wrong and I am absolutely not denying that.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Trade closed: target reached:
I believe that was it for this run! Could I be wrong? Absolutely and I'm not discounting that, just watching ;)
Trade active:
Now we look to see where this bottom lands? My lowest targets around $1.5k-$2k could be a bit too ambitious but we'll have to see. I think $7k-$8k is still in the cards at the very least.
Comment:
I still believe $7k will happen even if no one else does.
