What to expect from the bigger picture
2024-12-12
Category: None

It's been quite a while that I am following bitcoin's chart since my last analyses. Back in 2022, I surmised that 16k is the bottom and later on proposed that if bitcoin breaks the 37-42 level with a decent volume, very good things can happen. (I attach all the analyses to this post)

We have watched BTC's volatility in the past year, breaking 69k, though not quite easily with the world war speculations and the grand scheme of economic and sociopolitical circumstances. 

Anyway, BTC now is worth 101k, a value perhaps nobody dreamed of a decade ago. We still have the war speculations and the situation in the middle east is grave indeed. But the good news which can outweigh the bad situations is the post-halving volatility and optimism as well as the US investments, and possibly later on the European and Chinese investments. 

Currently, 100k can be a tough challenge, both psychologically and in terms of PnL analytics that big investors might be considering. Yet it can be broken easier than we expect, hitting around 120k according to the dynamic trendline and later on parabolically hitting a target as high as 150k-180k. 

We also have a CME gap in 75k-78k area that  might  be filled before this upward movement, though I surmise this gap will be filled in the next bear market, where bitcoin can revisit the 50k-70k area for its bottom. But a crash to 75k is not at all impossible, something that I personally see as a very valuable opportunity. 

Stay safe

#no_investment_advice
#DYOR
