Assuming correction (bearish) scenario.
This simple BTC analysis tells us that the current accumulation phase has been unusually long and aggressive, suggesting, we can expect nearly vertical price rally in the next 18 months or so. The price could reach 300k by the end of year 2021, peaking at as much as 400k-500k.
I follow here various EW counts within ascending wedge.
We§ve likely finished the 5th wave and once we break the trendline, we enter the downtrend as marked on the chart.
Is that possible that major bullish flag printed on D will bring us above the trend line?
We'll break this, and we're on the way to the Moon in 18 months.
This the scenario I currently follow. Not surethough how high we might go when breaking up through the upper trend-line when the biggest guys will just watch.
Halving might push us above the down-trend line and mark thus a new bull run.
8k is an incredibly strong resistance. Who will win? Retail or institutions?
We'll see a dump by the end the week most likely.
Donald Trump joins Coronavirus Task Force at 5 p.m. ET today. This might affect the trade.