Scenario 1 - A clear bull flag is present and we are currently sitting on the fib level a breakout above the flag will be a bullish sign and the beginning of the Bakkt price increase.
We could see BTC drop to $8100 area and move upward from there this may be the final shakeout.
Scenario 2 - Manipulation is easy for the big boys they want to push the price as far down as they could to buy in cheaply the price can move down as far as $5800 i don't expect the price to stay long at this level and it will shoot up very soon after. The reason is average price to mine a BTC at the moment is around $6100 so miners will just simply hold and not sell that is why i say it will shoot up quickly, the stock markets are very unstable and geopolitics and increasing dept will cause a recession world wide and even a depression is on the cards where normal Fiat will have little value unless the IMF announces a world currency backed by something with tangible value we may see a Crypto launch to unprecedented high levels.
Targets -
$8100 - $17000
$5800- $29000 area (the stronger the down trend the higher we will go upward)
The Altcoins are bleeding and if you are a holder it seems it will never be back up as soon as btc goes up the alts will recover some with a much higher rate than BTC be patient it will happen sooner or later.
Good luck !
We could see BTC drop to $8100 area and move upward from there this may be the final shakeout.
Scenario 2 - Manipulation is easy for the big boys they want to push the price as far down as they could to buy in cheaply the price can move down as far as $5800 i don't expect the price to stay long at this level and it will shoot up very soon after. The reason is average price to mine a BTC at the moment is around $6100 so miners will just simply hold and not sell that is why i say it will shoot up quickly, the stock markets are very unstable and geopolitics and increasing dept will cause a recession world wide and even a depression is on the cards where normal Fiat will have little value unless the IMF announces a world currency backed by something with tangible value we may see a Crypto launch to unprecedented high levels.
Targets -
$8100 - $17000
$5800- $29000 area (the stronger the down trend the higher we will go upward)
The Altcoins are bleeding and if you are a holder it seems it will never be back up as soon as btc goes up the alts will recover some with a much higher rate than BTC be patient it will happen sooner or later.
Good luck !