Bitcoin BTCUSD - BULL VIEW ... BUT not before A -25% RETRACEMENT

2021年4月10日

I really believe BTC can pass 200k by the end of the year (target 2).

At the moment, despite the huge pump in the previous 24h (we are at $60.300) I still believe that in order to move up again we need to retrace at around $43.000 in the next 20-40 days.

In all the previous new ATH, bitcoin has made a retracement between -22% and -29% and I think that we can see this again also considering the recent decrease in volume. Furthermore we are quite far from the 200 MA and it's a while that the RSI is not moving close to the oversold. Bitcoin is not new to false movement (it seems to have broken a bullish triangle) and double top and I think we are exactly in that situation.
Furthermore, this would be an healthy stop that would allow investors to buy back the BTC at a lower price fueling the bull run again.

At the moment the run seems to have lost power and indeed in the BTC history a price consolidation that was following an ATH, usually took as a consequence an average -25% correction.

I think that my view could be soon confirmed if the price will come again below 60k in the next 24/48 hrs.

2021年5月17日

ノート

We got to the target. Now let's see if it will bounce from here toward 100k ... or no :-)