BTC outlook for next four months
Updated
The self-fulfilling prophecy of a post-halving dump combined with a three year old pennant structure is keeping us in an increasingly small range, meaning we should be relatively neutral on BTC, in the medium term only.
CME Futures Gaps
Like it or not, self-fulfilling prophecy or not, CME Futures gaps always fill eventually. With gaps at $3580, $9500 & $11000, that would mean a quick collapse spike down to sub 3.5k (don't say this is impossible - we literally just went sub-
4K a few weeks ago and the biggest global recession in centuries is just warming up). After that I'm very confident BTC will sweep past $9.5 in the coming months and 11k will obviously fill when we finally make the push to a new ATH. I have the expectation we will move sideways for longer than expected before true upward momentum begins in 2021.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion. Add the essential EMA/SMA indicator to your chart too.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
- Short term a grind back to 6k pennant+200MA support is highly probable.
- Medium term a move back up to 8.2k resistance.
- Long term the journey to $1 million in 2026 continues.
CME Futures Gaps
Like it or not, self-fulfilling prophecy or not, CME Futures gaps always fill eventually. With gaps at $3580, $9500 & $11000, that would mean a quick collapse spike down to sub 3.5k (don't say this is impossible - we literally just went sub-
4K a few weeks ago and the biggest global recession in centuries is just warming up). After that I'm very confident BTC will sweep past $9.5 in the coming months and 11k will obviously fill when we finally make the push to a new ATH. I have the expectation we will move sideways for longer than expected before true upward momentum begins in 2021.Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion. Add the essential EMA/SMA indicator to your chart too.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
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