BTC has had a huge correction as of late, but I don't think this is the bear market yet. I am noticing a potential for one last bull run as bullish patterns emerge. Right now, I see a decending triangle, which in my experience, has resulted in bull runs. I don't think it will be an instant boom, but rather a long way up back to the top. Look for breakouts at the resistant lines, but if breakouts are denied, this could be it. With the stock market on the verge of collapse due to hyperinflation, it is likely to drag crypto down with it for a long bear market (years). August-December is when im predicting the last big move to be. I'm expecting BTC to bottom out between 20-30k, but most likely 25k. There will be a reversal and one last strong move. According to my fib retracement, 49k should be the next price target. Afterwards, more analysis will be required to predict further moves. If the bear market ensues however, it will be a great opportunity to buy the dip and dollar cost average your position. Assuming the world remains stable, bitcoin will not go anywhere and will only grow strength as people move away from the dollar.
Hope this technical analysis helps :)
Share with me your thoughts!
Hope this technical analysis helps :)
Share with me your thoughts!