A scenario I deem likely for the coming months.
An ETF approval seems likely at this point. In that case I think we go to the 50k 0.618 FIB resistance rather quickly.
This is just a scenario of how this could look like.
If Bitcoin takes a similar route to the upside, it would look like this.
Sounds pretty hefty 50k Bitcoin in July.
But if it can do it on the way down, it could also do it up??
In 2008/2009 AMZN stock saw one of its biggest crashes. It wiped out 64% of value in about 10 months. BTC saw a similar crash in 2022/2023 wiping out about 75% of its value.
Let's speculate that BTC would see a similar recovery as AMZN. This would mean BTC recovers 276% to about 65k per Bitcoin.
Because AMZN did it after 2008 it's certainly a possibility....
Inverse head and shoulder pattern in the 4hour ALGO/BTC chart.
If the neckline breaks I see the price going up about 30% to the 0.618 Fibonacci level.
I expect the breakout in the next 4 days.
Seeing a cup and handle in the jst/usdt daily chart. If it breaks out the target should be around 0.14 usdt. In addition, observing only small pullbacks in jst when btc corrects. Suggesting there is some strenght here.
If BTS/USD does not correct strongly I see this one playing out.
Seeing a cup and handle form in the BTC/USD 4 hour chart. Ideal entry would be a clear break (volume) at the 51600 level.
In the meantime just have a cup of tea :)
