I use volume analysis to track how most market participants get their estimates wrong and suffer losses.
And here is what I think about the long-term prospects of bitcoin and the cryptocurrency market in general.
Not financial recommendation. DYOR.
Bitcoin will touch 10k before soaring 100k
I use a logarithmic scale to take into account the compound interest effect inherent in all financial markets.
Since 2016, BTCUSD is in an uptrend, the core of which is the Center Line.
In December 2017, bitcoin was extremely overvalued (touched the blue High Line 2 – super FOMO) and returned to the Center Line in December 2018 to resume rising.
Now, in October 2022, the price is trying to rally from the Lower Blue Line, but I see no prerequisites for success. So my expectation is that:
- the Lower Blue Line will be broken from top to bottom
- we will see a touch of the lower blue dotted line (super PANIC) around 10k
- then bitcoin will resume its rally to reach and in 2025 the $100K level.
Okay, what to do all this time?
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