- The current correction could potentially reach $58k, which is where we find the first trend line support. I anticipate that BTC will not correct beyond this point.
- If the trend line is broken, the next stop could be around $50k.
- My new All-Time High (ATH) targets for BTC are $160k (Fibonacci 2.6) and $210k (Fibonacci 3.4). These targets also align with the upper trend channel resistance. I expect the price to bounce back from these levels by June 10, 2024, at the latest.
- In the long term, I believe that Ethereum (ETH) and BTC could/will be replaced by faster blockchains such as Solana (SOL), Near, Polkadot (DOT), SEI, APTOS, etc.
- SOL is the most likely candidate due to its advanced technology and comparatively low price.
- In my opinion, investors will gradually transition to these faster Web3 coins due to their superior usability, cheaper transaction costs, and potentially higher profitability, as demonstrated by SOL. This is because these coins are currently cheaper.
Please note that this is a subjective analysis and actual market conditions may vary. Always do your own research before making investment decisions.