DariusFxTrading

BTCUSD Bitcoin - Accumulation Phase, Institutional Demand

BITFINEX:BTCUSD   Bitcoin
Prediction: Bullish Scenario
Bitcoin is going to up higher from here to 70-85k till end of this year.

The chance for this scenario is very high due to we are currently at an Institutional Demand Zone + the market is currently in a clean textbook Accumulation Phase.

We have seen how the market has cleared both sides in order for the Institutions to accumulate even more positions for the potential UP MOVE.

Bearish Scenario:
What about the bearish scenario? Of course this is also possible but there is no reason to look at this scenario right now. Why? Because we are still in Up Trend based on the Higher Timeframes. Only after we are breaking the 28k Level we should look for a bearish scenario.

Will this mean the end for Bitcoin? NOOO! It will be just a deeper Correction till max 4k$. But the price could reverse at some other significant levels before 4k$.

What do you think?

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