BTC midterm outlook
Updated
as I said in the last posts I think BTC can hit targets between $11-14k (with or without etfs) but first I expect it will drop to 5.6k simply because of a
- hidden bearish div (downtrend continuation)
- bearish crossover on weekly RSI which is about to happen
anyways my final target is something between 1-3k (late 2019) then from my point of view this cycle like many others will end up with a proper capitulation followed by accumulation period (which is something we haven't seen yet) in that area. if it already gets a new bullrun which is something I don't really think I'll be the first to be happy.
- hidden bearish div (downtrend continuation)
- bearish crossover on weekly RSI which is about to happen
anyways my final target is something between 1-3k (late 2019) then from my point of view this cycle like many others will end up with a proper capitulation followed by accumulation period (which is something we haven't seen yet) in that area. if it already gets a new bullrun which is something I don't really think I'll be the first to be happy.
Note
I already know in the second cycle of gold there were etfs, but btc is more similar to this one.
Note
we are still a bit far away from capitulation, until this happens I can't really see a new bullrun. either it will crash already or it will get the last uptrend (11/14K) before crashing if 5.4k holds and we should test it. the last one is more likely for now imo.
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