In today's idea, we're going to entertain a "what if" scenario for
BTC
: what if the price of Bitcoin does an exact repeat of what happened back in 2019 up until the high in early 2021?
This hypothesis is based off the candle pattern that starts from the 2019 mid-cycle high (1). So, assuming April 2023 was our mid-cycle high of $31,035, it's interesting to note the possibility of further downside continuation for BTC.
From here on out it would be a slow grind down to $16,506 (2), then a sharp move to
25K
(3) (which would be an excellent fake out), then a final dump to $10,731 (4). While we aren't expecting (or hoping for) a repeat of the COVID crash that happened in March 2020, it's interesting to note that such a panic could push Bitcoin's price down to $10k- a level that would cause extreme fear and panic.
Lastly, the candle projection takes us just over $100k in early 2025 (5)- a realistic ATH target for Bitcoin in our opinion.
Note that this idea is purely based on a "what if" scenario, and should not be taken as financial advice.
BTC
: what if the price of Bitcoin does an exact repeat of what happened back in 2019 up until the high in early 2021? This hypothesis is based off the candle pattern that starts from the 2019 mid-cycle high (1). So, assuming April 2023 was our mid-cycle high of $31,035, it's interesting to note the possibility of further downside continuation for BTC.
From here on out it would be a slow grind down to $16,506 (2), then a sharp move to
25K
(3) (which would be an excellent fake out), then a final dump to $10,731 (4). While we aren't expecting (or hoping for) a repeat of the COVID crash that happened in March 2020, it's interesting to note that such a panic could push Bitcoin's price down to $10k- a level that would cause extreme fear and panic. Lastly, the candle projection takes us just over $100k in early 2025 (5)- a realistic ATH target for Bitcoin in our opinion.
Note that this idea is purely based on a "what if" scenario, and should not be taken as financial advice.
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