The prediction I made last week happened quite earlier than expected (thank you Elon Musk). Bitcoin decimated the $42,000 level and is now making new all time highs. This could mean a few things. This gap that has been created matched with the upside volatility could create a big retracement that would come out of the channel depicted above and move to the lower $30Ks (to the bottom of the trendline). On the other side, it could also mean that we will not see a sub $40K bitcoin and we would be moving on the next key level: the 3.618 Fibonacci retracement zone corresponding to around $60K. But remember that people are becoming more euphoric and greedier.
At this point, I remain cautious about it and only time will tell. Nevertheless, this is a major point in this cryptocurrency bull run, that has in my opinion, only just started.
What do you guys think?
At this point, I remain cautious about it and only time will tell. Nevertheless, this is a major point in this cryptocurrency bull run, that has in my opinion, only just started.
What do you guys think?