BITCOIN IS DED! (JK) ... Where to from here?
Bitcoins insane rally has come to temporary pause. At this point, I don't believe we have reached a top and could well rally up to $50k, $52k, $80k, $100k+ . Trying to predict the top is moronic.
There are 2 other reasons that makes this particularly difficult to work out: The DXY is recovering, and could well send the crypto markets into a solid downtrend. On the other hand, a symmetrical triangle is a continuation pattern, and well... weve been bullish for months. Bulls and bears will fight it out, don't jump in blindly. Just follow the trend. For now, I atleast expect a retest of previous ATH before we go into a longer term correction if we;re unable to break it.
There are 2 other reasons that makes this particularly difficult to work out: The DXY is recovering, and could well send the crypto markets into a solid downtrend. On the other hand, a symmetrical triangle is a continuation pattern, and well... weve been bullish for months. Bulls and bears will fight it out, don't jump in blindly. Just follow the trend. For now, I atleast expect a retest of previous ATH before we go into a longer term correction if we;re unable to break it.
