This run up from 29k has been fast paced and well accepted by most. Most are certain downside isnt feasible at the current state as BTC is so bullish however given confluence at 54k mixed with a few other indications , i feel our current position is not going to be held for long !
Mapped out are two price ranges highlighting the drop size required to go to 27k . Notice how in the first dump we dropped 34k in 70 days and now we could be looking to dump 26k , sending us to 27k in 70 days.
Currently the dxy looks weak and is showing signs it could return to 90.This is a potentially bullish sign for BTC however that also fits in with my idea here considering we are still 4k away from 54k.
I do expect a pull back to 48k at some point within the next week if we make no attempt at 54k. 27k is still very unlikely however certainty is dangerous
-Ozwald
Mapped out are two price ranges highlighting the drop size required to go to 27k . Notice how in the first dump we dropped 34k in 70 days and now we could be looking to dump 26k , sending us to 27k in 70 days.
Currently the dxy looks weak and is showing signs it could return to 90.This is a potentially bullish sign for BTC however that also fits in with my idea here considering we are still 4k away from 54k.
I do expect a pull back to 48k at some point within the next week if we make no attempt at 54k. 27k is still very unlikely however certainty is dangerous
-Ozwald
