BTC Short to Medium Term Outlook

30 พ.ค. 2020

Since BTC capitulated and bottomed in March it has been on a very strong and healthy uptrend. I would consider this a disbelief rally based on my observations on people and emotions. Lots thinking they could buy back in lower and waiting on the sidelines. Anyways all my indicators are bullish and BTC might just consolidate and chop around for a bit as alts are popping left and right. The most important area right now is if BTC can break $10,500 this would mark it's first higher high after it looks like it just made it's first higher low. Breaking $10,500 is significant and confirms my belief of us being in a Bull market, and I would be looking at the $11,500 area as a next huge resistance. BTC gets crazy at the top so if we are in full FOMO it definitely wouldn't surprise me to see blow off tops and wicks to the 113/14K level. June 20th is an important astro date as it's the Summer Solstice I am keeping an eye on that date through June 25th to take profits and enter back in lower.

Expecting BTC to sell off hard in July and the rest of Summer with a target around the end of August and September 2nd for the last cheap buying opportunity. That would make a nice inverse head and shoulders on the weekly through a historic trend line. Will have to see as we get closer, but anything in the $6-7k range seems like a likely spot, with an ideal low around $6,300. I think BTC will bounce pretty hard and test the top of the symmetrical triangle resistance and break out and then flip it into a s/r. If we look a bit further out I'm expecting 14k in Q4 probably December 17/18th. May 2021 break 20k and start to go to ATH!