Circling $44,000, traders were mostly preoccupied with a potential retracement, this having the potential to wipe out practically all recent progress.
"Now that we are at monthly resistance we may see a pullback. Even if we do, a higher low to 38K–40K would be "healthy" followed by continuation to 50K+ and a reclamation of our monthly resistance after which point, I'll have my sights set on a new ATH.
The long-term picture differed considerably, depending on the source and interpretation of macro market phenomena. While some called for a "melt-up" in stocks that would likewise aid BTC, others were far from convinced that 2022 would be an easy ride.
"Now that we are at monthly resistance we may see a pullback. Even if we do, a higher low to 38K–40K would be "healthy" followed by continuation to 50K+ and a reclamation of our monthly resistance after which point, I'll have my sights set on a new ATH.
The long-term picture differed considerably, depending on the source and interpretation of macro market phenomena. While some called for a "melt-up" in stocks that would likewise aid BTC, others were far from convinced that 2022 would be an easy ride.