$80k BTC by the End of January
Since July we've been in a roughly three month cycle following a trend line that, if repeated a third time, should put 80k-90k in play by the second half of January. Some key points to watch for have been indicated on the chart. First will be a break through and re-test of the psychological 60k level. Once through that, we will need to break the ATH and re-test it for support. Assuming we don't get stuck there, I would expect to see a new ATH of between 80k-90k sometime in the second half of January.
The counter analysis to this would be if we are unable to break through the aforementioned psychological levels. In this case, I expect to see prices slowly fade back down to previous volume areas around 45k-50k before another attempt.
The counter analysis to this would be if we are unable to break through the aforementioned psychological levels. In this case, I expect to see prices slowly fade back down to previous volume areas around 45k-50k before another attempt.
Trade closed: stop reached
Bitcoin never ceases to surprise us
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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.