A couple of days ago I made an analysis where I compared the 2019 bear market bottom with the current bottom that has formed over the last few months.
With the massive break out that we've seen over the last few days, it's becoming more and more likely that $15,5k was the actual bottom.
When we look at the previous bear market, we can see that, after forming the bottom, Bitcoin as a bullish period for a couple of months. In my view, it's very plausible that we're going to see further bullishness in the markets over the next 1-3 months.
For reference I've copied the 2019 bull move onto the current market. Unlikely that we'd follow the same pattern, but it can still offer some guidance.
Personally, I'm looking at 30k for the time being.
Quality explanation! Thanks for sharing with us your great analysis. Keep going!
reveance
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That's quite a difference in structure lol, this one ain't a gap
Liam_77
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Thanks for this. I am expecting btc to make a move up to the lower high that formed after the ATH in Nov, then begin to fall again. So I would say 45k-50k is still possible followed by a decline and chopfest for a few months or year.
TheSignalyst
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yes we want that!
RLinda
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Best work) I am interested to see your ideas, thanks)
AlJ95exactingHare27233
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Inflation Rate was 1.5, today it is still on 6. would a huge rally lead to more inflation? If so, would FED let it happen?
gtrchamp
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I wouldn't be surprised if we got close to 50k by June, followed by a gradual drop just like in 2019. That's very much in line with what some macroeconomists have been predicting for a while now. We get a massive relief rally in the first half of the year in both stocks and crypto and a dump afterwards as deflation kicks in.
FieryTrading
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@gtrchamp, 50k seems very high. Can you elaborate any further on that number?
gtrchamp
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That's my view based on what we saw back in 2019. Assuming we do get a goldilocks period before we hit recession, it seems doable. You actually put a bigger number there on the chart ;)