I have made a post a week ago with my thoughts of bitcoin going below 10k. I had said there's a good chance it'll hit 6k before recovering. That prediction came true. Now, where will bitcoin go from here? That's a question everyone is wondering. Well, a bounce like this shouldn't make you all think bitcoin is going to oblivion. We need to get through a lot of grim ups and downs still. 5k is still a possible scenario, and so is 3k. Do I think that will happen though? It's starting to look like it won't but it's to early to tell. I expect bitcoin to come back somewhere in the 6k to 7k level, and make a higher low. Where do I see bitcoin going short term? I think 9.5k is a good level. near the 400 SMA on the hourly chart. It could start dipping before that, but if bitcoin can keep above 8.3k, I would say a short term recovery to 9.5k and possibly even 10.8k.
