Quinton84

looking at the daily

Short
COINBASE:BTCUSD   Bitcoin
unless the traditional markets make a comeback this week, it looks like we are still in line to see a retracement back to the 6400-6500 range. I personally believe that we will see much lower prices in the long term before assets are re allocated back into the crypto world. But until then, here's the two outcomes i predict. Step 1: we see a small dip back to 6500 to follow the continuation pattern. Step 2: a reaction rally to bounce the price back to 6600-6700. Then that will be a critical moment. Will btc rally up to 7200 and build solid support in order continue the move up to 8000, or will it start making it's dive into the 5k range? The second quarter for the stock market is prematurely expected to be ugly and we all know that btc is directly correlated with the traditional stocks. i don't expect there to be any decoupling of the pair until the end of the year when the rich need to make some gains as the traditional markets will need much more time to recover.
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