The most possible and realistic bullish case for bitcoin!
Updated
Hey.
With all these calls for a 100k bitcoin or even 50k and the ultra bullish once above 100k, I had to give it my best to produce a bullish scenario , and there is actually one.
There is a gap at 7600 . If this gap gets filled in this last drop , witch is the bottom of the channel bitcoin has been in since creation. Then we might bottom there and slowly start climbing. The best bitcoin will be able to do is close to 30k in the next bull run.
The other bullish case is that bitcoin might pump towards 12k to fill the 11k gap and then it will slowly die while the whales transition into other crypto such as cardano, chainlink , bitcoin cash and some of the AI related projects.
So my prediction is that some alts will take a much bigger market share and a lot of it coming from bitcoin in the beginning of 2021, while bitcoin does nothing and just keeps a tight range.
But to be very clear, those calling for 50k+ even, are to disillusion or have very little knowledge of how algorithmic charts will end up looking like once enough points are confirmed to project the trend as above.
So I can see why it is in the whales interest to not dump sub 7600. But if we do, then I promise you that some very big and inactive addresses will start moving their bitcoin and every one will run for the door , first once the exchanges exiting blaming hacks!
Most probable outcome is 7600 hold and we start the bull run *Mainly for alts.
This will be after accumulation phase in November and on December is when the pump begins.
I am a big believer in cardano and will buy alot of it in november. The biggest loser will be xrp, it is a professional ponzi that was and still are a way for big money to get their bitcoin. It is difficult to buy 100 bitcoin or more and especially since the otc seems to have drained out . So they buy xrp from the founder and short xrp while transitioning into bitcoin.
In regards to my other chart , the bearish one. The bullish case there is that bitcoin around the period of 2023/2024 goes for a double top at 20k and dies
Thanks and GL
With all these calls for a 100k bitcoin or even 50k and the ultra bullish once above 100k, I had to give it my best to produce a bullish scenario , and there is actually one.
There is a gap at 7600 . If this gap gets filled in this last drop , witch is the bottom of the channel bitcoin has been in since creation. Then we might bottom there and slowly start climbing. The best bitcoin will be able to do is close to 30k in the next bull run.
The other bullish case is that bitcoin might pump towards 12k to fill the 11k gap and then it will slowly die while the whales transition into other crypto such as cardano, chainlink , bitcoin cash and some of the AI related projects.
So my prediction is that some alts will take a much bigger market share and a lot of it coming from bitcoin in the beginning of 2021, while bitcoin does nothing and just keeps a tight range.
But to be very clear, those calling for 50k+ even, are to disillusion or have very little knowledge of how algorithmic charts will end up looking like once enough points are confirmed to project the trend as above.
So I can see why it is in the whales interest to not dump sub 7600. But if we do, then I promise you that some very big and inactive addresses will start moving their bitcoin and every one will run for the door , first once the exchanges exiting blaming hacks!
Most probable outcome is 7600 hold and we start the bull run *Mainly for alts.
This will be after accumulation phase in November and on December is when the pump begins.
I am a big believer in cardano and will buy alot of it in november. The biggest loser will be xrp, it is a professional ponzi that was and still are a way for big money to get their bitcoin. It is difficult to buy 100 bitcoin or more and especially since the otc seems to have drained out . So they buy xrp from the founder and short xrp while transitioning into bitcoin.
In regards to my other chart , the bearish one. The bullish case there is that bitcoin around the period of 2023/2024 goes for a double top at 20k and dies
Thanks and GL
Note
Bitcoins bull cycles:1: 100 000% (from fraction of cents to 10$)
2: 10 000% (from 14$ to 1400$)
3: 1 000% (from 1400$ to 14000$ +)
4: 100% ? (24-30k Top)
Note
This is where the bears slowly will build momentum. Especially the algos are picking up that bitcoin is now trading under the 400DMA and it is acting as resistance. It is very clear on the BTC/EUR pair 6H, 12H and 1D. Till End of month it will be very clear on the USD pair too. GL All
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.