What a bloody Monday again. And lots of bearish charts around pointing to 8.4k and even lower.
But Bitcoin be Bitcoin. Do I see a big rising wedge forming on the weekly?
I wouldn't mind if Bitcoin gets pumped to 15-16K first before there's another dump.
Just a bit of counterthinking here...
Just my 2 satoshis...
Price of Bitcoin at the end of the year (Dec 31, 2019):
20K route - bullish: This is the safe bet.
50K route - very bullish: In the past Bitcoin surprised everyone in every single bull run by going up way faster as expected. Why would Bitcoin do it differently this time?
I'm going for 50K.
(Since I expect 50K and Bitcoin should...
My bullish scenario: A little downside towards the blue trend line (10.5-11k) followed by an impressive rally towards a new yearly high.
My bearish scenario: If BTC breaks the blue trend line we might go back to 9 or even 8k.
The bulls have the upper hand. To me it looks like a heavy pump is incoming with a first target of around 14k. It would not surprise me if it shoots up to 16k followed by a heavy correction towards the trend line.