It's been a while since I published an idea to my old trading view account but I thought this one could be a nice return to analysis.
Here we go!
Bitcoin have been extremely bearish since hitting the $69K levels and every push higher since have been sold off and it keeps making lower highs and lower lows. Traders have been calling bear market status on the asset and saying that it's time is up but i beg to differ at least for now.
Price seems to be magnetically being pulled down to the 41,400 - 42,800 levels where it actually broke out from back in September of this year, the 29th to be exact. If the Bitcoin price completes this return to the previous break out level (which I expect might have lots of massive institutional buy orders) over the next few days to weeks (I’m estimating it to be about the next 11-14 days, about Dec 29, 2021-Jan 1, 2022) we could see a quick wick liquidity grab and then swift bounce across the next 2 months that could probably take us as high as $75,500 to about $86,000 sometime early in 2022 (about 49 days which weirdly ends up being Valentines Day 2022).
This is where I will take most of my profits from this trade idea if it plays out accordingly.
I will also use this dip into the $42 level to add to some of my other crypto assets that I favor to have a big year for 2022. (Notable mentions go to ETH, LTC, SOL, AVAX & MATIC)
Seasons greetings everyone, Merry Christmas and a Happy new year when it comes!
Here we go!
Bitcoin have been extremely bearish since hitting the $69K levels and every push higher since have been sold off and it keeps making lower highs and lower lows. Traders have been calling bear market status on the asset and saying that it's time is up but i beg to differ at least for now.
Price seems to be magnetically being pulled down to the 41,400 - 42,800 levels where it actually broke out from back in September of this year, the 29th to be exact. If the Bitcoin price completes this return to the previous break out level (which I expect might have lots of massive institutional buy orders) over the next few days to weeks (I’m estimating it to be about the next 11-14 days, about Dec 29, 2021-Jan 1, 2022) we could see a quick wick liquidity grab and then swift bounce across the next 2 months that could probably take us as high as $75,500 to about $86,000 sometime early in 2022 (about 49 days which weirdly ends up being Valentines Day 2022).
This is where I will take most of my profits from this trade idea if it plays out accordingly.
I will also use this dip into the $42 level to add to some of my other crypto assets that I favor to have a big year for 2022. (Notable mentions go to ETH, LTC, SOL, AVAX & MATIC)
Seasons greetings everyone, Merry Christmas and a Happy new year when it comes!