BTC UPDATE: 30-50% Rally after 20%+ correction? $50k NEXT TARGET
After we have seen the 20% correction which I predicted yesterday, I decided to publish another chart with my opinion on the upcoming moves of Bitcoin. Over the last month we can see on the chart that everytime we had a 10-30% correction, we saw a 30-50% rally from the local low to new ATH's. In my opinion, such a rally is also possible next week, since we just had another 20% correction and the bullish megaphone (pink) is still holding. Next crucial point which I think Bitcoin will hit is 50k. After we hit 50k, I expect Bitcoin to do another big correction, maybe even up to -50%.
I will link an interesting chart from Trader 'TradingShot', which is one of the reasons why I think we will see a really big correction after 50k before we can think about a 6-digit Bitcoin.
Thank you for all the follows and likes on my previous ideas btw!
Good luck and happy trading everyone!
No financial advice :)
I will link an interesting chart from Trader 'TradingShot', which is one of the reasons why I think we will see a really big correction after 50k before we can think about a 6-digit Bitcoin.
Thank you for all the follows and likes on my previous ideas btw!
Good luck and happy trading everyone!
No financial advice :)
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