Bitcoin as I see it
Updated
Now, I am not dubbed the Nostradamus of Bitcoin or Crypto. I have had some pretty farfetched ideas for short and long term ideas.
However, I see a few different (Most likely wrong) possibilities for Bitcoin in the short - medium term:
I have 2 different "Bullish" and 2 different "Bearish" scenarios to get wrong!
Bullcase 1 (blue opaque line): This could be a very nice dead cat bounce like the 2020 March Crash, leading to a new ATH
Bullcase 2 (green drawn line): This is similar to the first scenario, however this one i see taking a little more time. Macroeconomics play more into this play ie interest rate hikes not being as high as previously thought or crypto adoption.
Bearcase 1 (black opaque line): a short term bearish continued drop to the lower orange line around 21k-22k and few month hiatus of battling the
27K range. Fighting resistances along the way, but will take longer to reach a decent 50k zone
Bearcase 2: (Red drawn line): A repeat of the "Crypto Winter" that happened in 2018 into 2019. Much like Bearcase 1, a drop to the 21k-22k level and a slow upwards movement. This one I think could be more likely given the current Macroeconomics (I use this word only because I feel as though it makes me look smart). This will take longer, but gives a lot more buying opportunities for our long term goals!
If you read through all of this, I appreciate it so much! I hope my rambling makes sense, and maybe one day this "crazy cat person" might get something right :)
However, I see a few different (Most likely wrong) possibilities for Bitcoin in the short - medium term:
I have 2 different "Bullish" and 2 different "Bearish" scenarios to get wrong!
Bullcase 1 (blue opaque line): This could be a very nice dead cat bounce like the 2020 March Crash, leading to a new ATH
Bullcase 2 (green drawn line): This is similar to the first scenario, however this one i see taking a little more time. Macroeconomics play more into this play ie interest rate hikes not being as high as previously thought or crypto adoption.
Bearcase 1 (black opaque line): a short term bearish continued drop to the lower orange line around 21k-22k and few month hiatus of battling the
27K range. Fighting resistances along the way, but will take longer to reach a decent 50k zoneBearcase 2: (Red drawn line): A repeat of the "Crypto Winter" that happened in 2018 into 2019. Much like Bearcase 1, a drop to the 21k-22k level and a slow upwards movement. This one I think could be more likely given the current Macroeconomics (I use this word only because I feel as though it makes me look smart). This will take longer, but gives a lot more buying opportunities for our long term goals!
If you read through all of this, I appreciate it so much! I hope my rambling makes sense, and maybe one day this "crazy cat person" might get something right :)
Note
It looks like the Red line is holding the best with this idea. If holds true, 22k should be the bottom and what was experienced recently was the "capitulation" dump.
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.