This sideways market has to break eventually. History says it will break to the upside. Right now, I'm hopeful that July will show a strong recovery and move up into the Resistance area around 45600 before falling back down to the Support level around 40200. At this point market factors could remain suppressed and continue to push BTC into another sideways trend.
This analysis shows a new ATH by late October. This would be considered a Very conservative estimate and already places Bitcoin well behind schedule. If this projection fails then this means there is a total breakdown in the underlying structure of Bitcoin in relation to it's historical time frames and price projections.
This analysis shows a new ATH by late October. This would be considered a Very conservative estimate and already places Bitcoin well behind schedule. If this projection fails then this means there is a total breakdown in the underlying structure of Bitcoin in relation to it's historical time frames and price projections.
Comment:
Basically, this becomes a do or die situation for Bitcoin. A breakdown here could result in a long term re-evaluation of Bitcoin.