BTC Update - Rise to $45K……and then????
Hello Traders,
This rally feels different. We have to see the numbers to understand that institutions are currently BUYING bitcoin at market order prices….$125 million BTC bought by Terra’s CEO on an exchange platform. Terra also plans to unvest in $15 Billion BTC reserves for peer to peer transaction ecosystem which will undoubtedly reign supreme for the future.
Two possible outcomes.
Scenario 1: We retrace down to
42K as support and consolidate for an upward move to 45K-47K. If we flip 47K then market is BULLISH AF. Target - $58-60K possibly higher to 100K !!!!!
Scenario 2: If we hit resistance again at 45K and cannot break after a few retests….Then we will start the move to 40K, then 38K, then 35K which should hold strong. Then we will FORSURE make the biggest parabolic move in history. 100K+
*Worst case scenario…..if we fail to hold lower supports for some reason….the lowest EMA we would potentially hit is around 20K.
I have presented both scenarios to the best of my knowledge and research….please do your own before trying to manage risk! I am not professional just doing this for fun!
This rally feels different. We have to see the numbers to understand that institutions are currently BUYING bitcoin at market order prices….$125 million BTC bought by Terra’s CEO on an exchange platform. Terra also plans to unvest in $15 Billion BTC reserves for peer to peer transaction ecosystem which will undoubtedly reign supreme for the future.
Two possible outcomes.
Scenario 1: We retrace down to
42K as support and consolidate for an upward move to 45K-47K. If we flip 47K then market is BULLISH AF. Target - $58-60K possibly higher to 100K !!!!!Scenario 2: If we hit resistance again at 45K and cannot break after a few retests….Then we will start the move to 40K, then 38K, then 35K which should hold strong. Then we will FORSURE make the biggest parabolic move in history. 100K+
*Worst case scenario…..if we fail to hold lower supports for some reason….the lowest EMA we would potentially hit is around 20K.
I have presented both scenarios to the best of my knowledge and research….please do your own before trying to manage risk! I am not professional just doing this for fun!
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