Bitcoin Could Snap a Long-standing Linear Streak Very Shortly

Bitcoin has grown in a linear fashion since its inception. For the streak to continue, Bitcoin needs to touch the lower rising log arch in early October at ~$3000. That means at present time, Bitcoin would need to fall nearly $8000 in two months which seems highly unlikely at this point. The only way I can see this playing out is if some MAJOR FUD surfaces. The biggest near-term headline risk I see for bitcoin is US Government Regulation. I could envision a scenario where the market would tumble in the short term upon heavy SEC regulation; however, this is pure speculation at this point. If Bitcoin fails to come down and touch the lower line in my chart, we must begin to consider how Bitcoin is morphing over time...

Lets say Bitcoin somehow does fall drastically over the next two months and continues to progress in a linear fashion. This would be a Buy the Dip situation as the math subsequently leads to a price of approximately $160,000 in mid-August 2023. That is a 53x.

IF Bitcoin does not trend down and touch the line on October 7th, then Bitcoin bottomed prematurely as compared to prior linear cycles. If that is the case, what does this mean for the future of Bitcoin? Will Bitcoin top prematurely? Will Bitcoin just blow through the upper rising log arch and surprise everyone? Would love to hear your thoughts in the comments.

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