In this theory, there seems to be 3 equally weighted scenarios that may play out in the short term. Regardless, I believe the long term is still a slow trend to the upwards side. However, this could become a more exponential growth if 1 of these scenarios plays out, which has a 30% chance of occurring.
Continuation to ATH: 33%
"Dead-cat bounce" with a head and shoulders forming in the $48K-55k range: 33%
Immediate rejection around $48k-52k, then a drop down to the $30k range: 33%
Yea..."it could go up down or sideways"... I get that, however this is my "more detailed" version of that here.
A healthy movement on the RSI over the next week or two will be the best indicator here for the bullish scenario, and an over correction of the RSI will most likely signify the bearish scenarios.
Continuation to ATH: 33%
"Dead-cat bounce" with a head and shoulders forming in the $48K-55k range: 33%
Immediate rejection around $48k-52k, then a drop down to the $30k range: 33%
Yea..."it could go up down or sideways"... I get that, however this is my "more detailed" version of that here.
A healthy movement on the RSI over the next week or two will be the best indicator here for the bullish scenario, and an over correction of the RSI will most likely signify the bearish scenarios.