Bitcoin (BTC)/USD rate (June 11th 2021 through October/December 2021)
Low: $6,271 - $7,104 - $8,488
High: $35,440 - $35,800
Ok, I think I've finally made up my mind after considering some older charts that I had made ahead of time in the last 6 months.
The last chart of mine that made any actual sense is attached at the bottom, From January 15th 2021. Pretty much all of my other charts on Bitcoin have mostly been bullish bull****. The trend flips from time to time and I believe now that $64k was the conclusion of the run. Some may say Bitcoin is forming a triple bottom, which I can see justification for, but I believe the current pattern is a bearish descending triangle. Could be wrong as well but really we're all just gambling here in my opinion.
I do have a lot of reason to believe that this run is over for the time being, but come 2023-2024 we may finally see upwards movement from where ever this bottom lands. A lot of it has to do with the over-inflated hype that came with the Elon Musk and Michael Saylor train. JPMorgan stepping in is probably another good reason to be very careful.
I think its possible to see Bitcoin hit $6k at the very lowest this year, potentially even something like $5k but that could be wishful thinking too. $8.5k seems like the most reasonable bet for getting a good buy in. The bears aren't hibernating anymore?
The most important previous chart I made is attached below here:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Low: $6,271 - $7,104 - $8,488
High: $35,440 - $35,800
Ok, I think I've finally made up my mind after considering some older charts that I had made ahead of time in the last 6 months.
The last chart of mine that made any actual sense is attached at the bottom, From January 15th 2021. Pretty much all of my other charts on Bitcoin have mostly been bullish bull****. The trend flips from time to time and I believe now that $64k was the conclusion of the run. Some may say Bitcoin is forming a triple bottom, which I can see justification for, but I believe the current pattern is a bearish descending triangle. Could be wrong as well but really we're all just gambling here in my opinion.
I do have a lot of reason to believe that this run is over for the time being, but come 2023-2024 we may finally see upwards movement from where ever this bottom lands. A lot of it has to do with the over-inflated hype that came with the Elon Musk and Michael Saylor train. JPMorgan stepping in is probably another good reason to be very careful.
I think its possible to see Bitcoin hit $6k at the very lowest this year, potentially even something like $5k but that could be wishful thinking too. $8.5k seems like the most reasonable bet for getting a good buy in. The bears aren't hibernating anymore?
The most important previous chart I made is attached below here:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
