Will BTC break ATH today?
What everyone wants to know rn
so I'm gonna take a stab at it.
I normally wouldn't, since I don't have a clear enough answer to post about it, but it's such an exciting time.
I'mma say NO
It's climbing too steep too fast.
As you can see, it's been in an ascending wedge ever since it broke out of the death cap (which I called accurately). Ascending wedges are somewhat bearish, showing signs of being over-bought. That on top of this steep climb the last week or two, it's almost asking for a dump.
If BTC does not reach an all-time high soon or without pulling back too much (under 39600 would be very bad), then it would be overall pretty bearish, possibly in for a long extended period of lower prices.
If it does manage to put in an ATH it will have to sustain it for a while, else be considered a double-top, if albeit an optimistic one.
Could we see 100k btc by the end of the year? Sure, but how it behaves over the next few days will be critical.
so I'm gonna take a stab at it.
I normally wouldn't, since I don't have a clear enough answer to post about it, but it's such an exciting time.
I'mma say NO
It's climbing too steep too fast.
As you can see, it's been in an ascending wedge ever since it broke out of the death cap (which I called accurately). Ascending wedges are somewhat bearish, showing signs of being over-bought. That on top of this steep climb the last week or two, it's almost asking for a dump.
If BTC does not reach an all-time high soon or without pulling back too much (under 39600 would be very bad), then it would be overall pretty bearish, possibly in for a long extended period of lower prices.
If it does manage to put in an ATH it will have to sustain it for a while, else be considered a double-top, if albeit an optimistic one.
Could we see 100k btc by the end of the year? Sure, but how it behaves over the next few days will be critical.
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