Bitcoins resistance and support. Bitcoin can be on a new run
Updated
In my honest opinion bitcoin is shooting upwards at the moment because institutions are buying up slowly. We are a great deal of people who believe that btc/blockchain is the future. The posibillities that a decentralized economy and programable money gives, are way more than any printed fiat system will be able to give us. A more sofiticated economic system, fully transperant and with full ownership/non inflationary, this is the future. Institutions are fomoing, and they better be or else they will be left in the dust. This is whats happening. Accumilation, then a spike in price. Then we might see a significant pullback.
If we take a short look at the RSI, BTC is way overbought at the moment. So if we look for patterns, we might see a drop soon and then a continueation to the upside if volume keeps up.
Reading the charts and the patterns.. suggest that when we hit the next halvening, we will hit a new ath. In my mind we will hit around 40 k to 50k and then a new bear. But this time the lowest we will go might be around 6k. The cycle will continue till bitcoin has finally build a full functional infrastructure and a UI that is not only made for the few.
Till then guys. HODL and buy up at decent levels. 5 -10 years down the road u won´t have a single regret
If we take a short look at the RSI, BTC is way overbought at the moment. So if we look for patterns, we might see a drop soon and then a continueation to the upside if volume keeps up.
Reading the charts and the patterns.. suggest that when we hit the next halvening, we will hit a new ath. In my mind we will hit around 40 k to 50k and then a new bear. But this time the lowest we will go might be around 6k. The cycle will continue till bitcoin has finally build a full functional infrastructure and a UI that is not only made for the few.
Till then guys. HODL and buy up at decent levels. 5 -10 years down the road u won´t have a single regret
Note
just added a little more text to the RSI
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