Possible scenarios for BTC
Updated
At the moment, 50k-53k is a very critical level for 
BTC in order to determine whether or not we'll move into a bull run or not. Another rejection and bobos will have a field day seeing no one happy for Christmas this December.
I've laid out a couple of scenarios for BTC:
Bull case:
-We breach the trendline and make a higher high and complete a wave 3 target toward 100k without retesting the trendline
-The same as above but the trend line gets retested and a new bull trend gets created
-Exchange reserves decreasing significantly ever since the dump from 50k
-Taproot
-New local high on taker buy/sell ratio
-Spot ETF?
-Possibility of other social media platforms following twitter's adoption of BTC and ETH (OF btc donations from simps?)
-Btc volcano mining from El Salvador
Bear case:
-Bitcoin gets rejected at the trendline again increasing the likelihood of a bear market but with a much higher ath potential (300k+?) sometime in 2022 or 2023. I suspect the bottom to be anywhere between 22k-24k. Good time to pick up on alts and accumulate. Doesn't even matter if you are working min. wage at Mcdonald's or Amazon with this scenario, just have cash/stable coins ready to buy the dip, and cash out your 10x-100x ROI.
-Bids at 36k-40k region continuing to reduce whilst under 50k/major trendline, providing an opportunity for a selloff to sub 40k due to lack of support.
-Trusts/Funds selling at a negative premium
-SPX/CPI wave 5 target
-115% U.S. debt/GDP ratio
-Evergrande situation (tether correlation?)
Overall, wouldn't be surprised if we crabbed for a couple of months maybe even a year until either case becomes more dominant.
BTC in order to determine whether or not we'll move into a bull run or not. Another rejection and bobos will have a field day seeing no one happy for Christmas this December. I've laid out a couple of scenarios for BTC:
Bull case:
-We breach the trendline and make a higher high and complete a wave 3 target toward 100k without retesting the trendline
-The same as above but the trend line gets retested and a new bull trend gets created
-Exchange reserves decreasing significantly ever since the dump from 50k
-Taproot
-New local high on taker buy/sell ratio
-Spot ETF?
-Possibility of other social media platforms following twitter's adoption of BTC and ETH (OF btc donations from simps?)
-Btc volcano mining from El Salvador
Bear case:
-Bitcoin gets rejected at the trendline again increasing the likelihood of a bear market but with a much higher ath potential (300k+?) sometime in 2022 or 2023. I suspect the bottom to be anywhere between 22k-24k. Good time to pick up on alts and accumulate. Doesn't even matter if you are working min. wage at Mcdonald's or Amazon with this scenario, just have cash/stable coins ready to buy the dip, and cash out your 10x-100x ROI.
-Bids at 36k-40k region continuing to reduce whilst under 50k/major trendline, providing an opportunity for a selloff to sub 40k due to lack of support.
-Trusts/Funds selling at a negative premium
-SPX/CPI wave 5 target
-115% U.S. debt/GDP ratio
-Evergrande situation (tether correlation?)
Overall, wouldn't be surprised if we crabbed for a couple of months maybe even a year until either case becomes more dominant.
Note
Both triangle and abc waves got eliminated, could see an impulse move to 80k or 180k.Note
More bearish cases:-Global energy shortages
-Shipping backlogs
-Major chip shortage
-Uptick on covid cases heading into flu season
Bull cases:
-Debt ceiling getting raised
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.