Another week is here! What can we expect.
Downward potential
1. Grayscale has a large amount of shares being released on the 17th. (reported by Forbes)
This will most likely result in more selling action. (JPMorgan analysts say)
2. Potential FUD with Binance and Regulators ongoing
3. Whales having been holding the 30k line for a while now. They may be all bought out.
Upward Potential
1. Only 5% of CEOs interviewed said they had any plans of buying bitcoin at all; most likely not even those 5% are thinking in short term buys.
Enterprise is not joining the bandwagon soon.
2. Tweet from influencer (Elon) or general good news about adoption.
As you can see the short term potential for a bounce would be purely speculative and short lived.
Real bad news for BTC is ongoing and very real. Volume is also down..
This could be the week of another crash!
How: Greyscale release causes new sellers. FUD accelerates us under 30k.
Longterm holders loose hope and sell as well.
We would expect another dead-cat bounce if it does this.
Probabilities:
Upwards (You have a zzz% chance of seeing this if the market moves up)
36K (70%), 38k - 38k (10%), 40k - 42k (5%), 43k + (5% left for Miracles)
Downwards (You have a zzz% chance of seeing this if the market moves down)
30K (50%), 29K - 25K (40%), 10% left for nightmares.
Downward potential
1. Grayscale has a large amount of shares being released on the 17th. (reported by Forbes)
This will most likely result in more selling action. (JPMorgan analysts say)
2. Potential FUD with Binance and Regulators ongoing
3. Whales having been holding the 30k line for a while now. They may be all bought out.
Upward Potential
1. Only 5% of CEOs interviewed said they had any plans of buying bitcoin at all; most likely not even those 5% are thinking in short term buys.
Enterprise is not joining the bandwagon soon.
2. Tweet from influencer (Elon) or general good news about adoption.
As you can see the short term potential for a bounce would be purely speculative and short lived.
Real bad news for BTC is ongoing and very real. Volume is also down..
This could be the week of another crash!
How: Greyscale release causes new sellers. FUD accelerates us under 30k.
Longterm holders loose hope and sell as well.
We would expect another dead-cat bounce if it does this.
Probabilities:
Upwards (You have a zzz% chance of seeing this if the market moves up)
36K (70%), 38k - 38k (10%), 40k - 42k (5%), 43k + (5% left for Miracles)
Downwards (You have a zzz% chance of seeing this if the market moves down)
30K (50%), 29K - 25K (40%), 10% left for nightmares.
