A little reflection on the development of the price of BTC. Currently almost 0 interest from small retail investors.
If we look at the price development since the top of the last cycle as a cup and handle (purple curve) or a growing orange channel, from the point of view of technical analysis, the target is between 115-130,000 USD. Around 100t, retail investors...
If we look in the previous bull run, there are few main points:
After the breakout of the falling price and weekly RSI resistance, it took BTC approximately 160 days to make a second peak at 0.618 fibo level
Such a movement would take us to about 50k at around April 2023
There are actually many similarities - mainly the big channel that the btc stays in the...
My take on what is gonna happen: BTC is currently forming a bull flag, which should break up, within few days, taking us above 51k. There, after hitting a major resistance (golden pocket, measured from ATH to 29k) we should finally make a significant correction. Depending on the sell pressure, that would take us back to either 47k or even 42k, probably ending in...
