Bitcoin: A Longterm Outlook
Updated
It might take a couple years before another rally.
The next 4 months I expect price failing at the red trend line and coming back down to 220-300 depending on how strong demand is there and therefore if it's worth for whales to try running the stops bellow 230.
The 800-900 target is derived from meassuring the distance at the widest place within the triangle, and projecting that same distance (150%) from the (expected) breakout point upwards.
The next 4 months I expect price failing at the red trend line and coming back down to 220-300 depending on how strong demand is there and therefore if it's worth for whales to try running the stops bellow 230.
The 800-900 target is derived from meassuring the distance at the widest place within the triangle, and projecting that same distance (150%) from the (expected) breakout point upwards.
Note
This forecast is rendered invalid if the red trend line is broken prematurely (e.g. the next couple months) So don't hold to your shorts after (both) red trend lines break.
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