BTC Has Finished Its Bull Run with a $~69000 for 2021.
In my previous ideas about BTC i specifically sad that in order for btc bull run to continue we must hold 53k so we don't invalidate 5 elliott waves . With the recent liquidation event falling to 42k we can now say that btc has entered a bear market. I don't think 42k is a bottom yet. We could very well drop further into a 35k area. After that if we start recovering, we can then assume btc has started a retracement, usually this happens in a ABC fashion to the .702 fib. retracement level that is extended over the ATH and the new low.
With the Altseason i expect laggers to lead the show like XRP, DASH, EOS, BCH, IOTA, and all that haven't had their rusn yet and are still very below their previous 2018 ATH.
If we see, (which is extremely likely) altcoins start popping like crazy as btc strats recovering it will further confirm btc is in the retracement and therefore in a bear market.
Just so you know, this expected ABC retracement for BTC could take quite a while, even up to a year. With that sad, i expect btc will re-visit 15-13k prices, or in a case of a stock market crash (which btc also have not experienced yet) we can go MUCH lower. Also bear markets are faaar harder to predict than bull ones.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
BTCUSDT
With the Altseason i expect laggers to lead the show like XRP, DASH, EOS, BCH, IOTA, and all that haven't had their rusn yet and are still very below their previous 2018 ATH.
If we see, (which is extremely likely) altcoins start popping like crazy as btc strats recovering it will further confirm btc is in the retracement and therefore in a bear market.
Just so you know, this expected ABC retracement for BTC could take quite a while, even up to a year. With that sad, i expect btc will re-visit 15-13k prices, or in a case of a stock market crash (which btc also have not experienced yet) we can go MUCH lower. Also bear markets are faaar harder to predict than bull ones.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
BTCUSDT
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With the BTC market cap. chart you can also see that we have reached over the full 4.236 fib. extension of the previous bull run. That indicates to me that btc is over. Even though with the regular BTC price chart it did not reach that extension level, market cap. plays more important role than the price of the asset.
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FUTURE POTENTIAL WARNING: If all this plays out, you can expect retail investors to become very bullish once BTC starts to go into a retracement. everyone will again call for 100k or even beyond if you listen to Michel S. and others. They want to create liquidity for the last whales to dump BTC as it approaches 60k. By the way if we fall to 35k i don't expect BTC to even reach 60k.
A lot of people are gonna hate all of this what i and others are presenting right now for BTC. It is just how it is.
I remember in Dec. 2017 everyone was calling for 50, even 100k BTC. It went to 20. When everyone expect a certain price, it usually won't be reached, otherwise who would win?
A lot of people are gonna hate all of this what i and others are presenting right now for BTC. It is just how it is.
I remember in Dec. 2017 everyone was calling for 50, even 100k BTC. It went to 20. When everyone expect a certain price, it usually won't be reached, otherwise who would win?
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Also if alt season happens we should expect BTC dominance to fall further from this descending triangle.
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Also we can compare bitcoin upside down with the xrp capitulation and see the simmilarities.