Bitcoin sub 40K closing is very unlikely

2021年5月17日

Hello everyone,

I wanted to thank you all for your huge support & also to all new followers.

Because of the long term chart seen below, I received many private messages whether I see Bitcoin still bullish and reaching 100K as in the original idea or if I'm already bearish

I can´t reply to hundreds of messages I´m receiving from you every day but I will try to explain it a bit in this chart to all of you who asked me..

In 2017/8 bull run, we had few 30-40% corrections on the way from 1 to 20K (keep that in mind)
We just have a solid and very healthy correction

The majority of newcomers started to buy in a range of 30 to 40K zone at the beginning of the year and that brings me to the opinion that we probably won't see prices sub 40K again (if yes then flash-crash spike based on fud and panic only)

Solid support to be found in the green range. I would personally consider buying the dip (Prices sub 50K) in the yellow box. 4h tf charts are already showing bull divergences and buy signals and they are pushed slowly to Daily either.


I think we will reverse within 2 weeks and within 2 months we might reach a new ATH in range above 70K

I think that BTC might actually hit even prices aboove 200K till EOY

Hope you guys find this observation and explanation helpful

Stay safe keep DCA buying in the long term, do only small amounts of account on margin and manage your risks properly.

Cheers


ChaChain
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.

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2021年6月30日

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