Posted this chart in April. Has developed nicely, breakout imminent Long
Monthly candle analysis - declining sell volume indicates pivot month = August Liquidity events that speak for bull target 15k: September = liquidity event (actual ETF anticipation) November = liquidity event (ICE Bakkt launch) Relevant price targets EOY EOS price targets: 20 USD ETH price target: 200 USD (based on bearish premise "too little too early")...
Just an updated with the latest RSI readings for you
If we get an early unlikely approval of an "institutional 200k/share ETF" Unlikely to happen with recent news but September might get some regulatory clarity
Scenarios - will stock+crypto correlation break?
Next week we will break up or down. Newsflow is ok but sentiment is bearish and would require more bullish news to turn
Very likely to hit 300 - also very likely to hit 240 to close the gap after the summer Money flow is relatively high at the moment MACD crossover bullish too All indicators for 300 but seems risky, taking partial profits is recommended after a 30% increase from bottom
The BTC rally may continue for a while - intermediate selloffs wont change that. RSI on the 1W healthy. MACD crossover Careful: Summer time = Regulation time. If ETH is declared a security, we will see a significant pullback in bullishness. Other than that, mostly positive catalysts: Adoption, tech progress, Lightning network scaling nicely
A scenario where we will see a fast recovery back to the 17,5k level
Can Bitcoin recovery quickly? A potential scenario
Bitcoin may suffer from more sell-offs and more volatility as market becomes more sophisticated and people dont just buy
12k will serve as short-term resistance. 10k may then act as psychological support