Now, I am not dubbed the Nostradamus of Bitcoin or Crypto. I have had some pretty farfetched ideas for short and long term ideas.
However, I see a few different (Most likely wrong) possibilities for Bitcoin in the short - medium term:
I have 2 different "Bullish" and 2 different "Bearish" scenarios to get wrong!
Bullcase 1 (blue opaque line): This could be a very nice dead cat bounce like the 2020 March Crash, leading to a new ATH
Bullcase 2 (green drawn line): This is similar to the first scenario, however this one i see taking a little more time. Macroeconomics play more into this play ie interest rate hikes not being as high as previously thought or crypto adoption.
Bearcase 1 (black opaque line): a short term bearish continued drop to the lower orange line around $21k-$22k and few month hiatus of battling the $27k range. Fighting resistances along the way, but will take longer to reach a decent $50k zone
Bearcase 2: (Red drawn line): A repeat of the "Crypto Winter" that happened in 2018 into 2019. Much like Bearcase 1, a drop to the $21k-$22k level and a slow upwards movement. This one I think could be more likely given the current Macroeconomics (I use this word only because I feel as though it makes me look smart). This will take longer, but gives a lot more buying opportunities for our long term goals!
If you read through all of this, I appreciate it so much! I hope my rambling makes sense, and maybe one day this "crazy cat person" might get something right :)
However, I see a few different (Most likely wrong) possibilities for Bitcoin in the short - medium term:
I have 2 different "Bullish" and 2 different "Bearish" scenarios to get wrong!
Bullcase 1 (blue opaque line): This could be a very nice dead cat bounce like the 2020 March Crash, leading to a new ATH
Bullcase 2 (green drawn line): This is similar to the first scenario, however this one i see taking a little more time. Macroeconomics play more into this play ie interest rate hikes not being as high as previously thought or crypto adoption.
Bearcase 1 (black opaque line): a short term bearish continued drop to the lower orange line around $21k-$22k and few month hiatus of battling the $27k range. Fighting resistances along the way, but will take longer to reach a decent $50k zone
Bearcase 2: (Red drawn line): A repeat of the "Crypto Winter" that happened in 2018 into 2019. Much like Bearcase 1, a drop to the $21k-$22k level and a slow upwards movement. This one I think could be more likely given the current Macroeconomics (I use this word only because I feel as though it makes me look smart). This will take longer, but gives a lot more buying opportunities for our long term goals!
If you read through all of this, I appreciate it so much! I hope my rambling makes sense, and maybe one day this "crazy cat person" might get something right :)
If holds true, $22k should be the bottom and what was experienced recently was the "capitulation" dump.