I’ve been tracking the course of bitcoin for the last 5 years. I think we are in for some major volatility soon!
Scenario 1:
The bitcoin price will rally as elections are heating up, and more people are sponsoring bitcoin and other meme coins in this period, in addition the tension in the Middle East . Consequently, the US market seems to have some underlying affect on the price of bitcoin. It is connected to the dollar. De-dollarization is a reality. But, you can’t back out on currency yet, too many people would be affected. People presently and people how will. So I expect the fed to cut rates hard, and quickly, without a doubt saving the economic bubble waiting to pop soon. Leading to a red swan event. No I did not say black. Red swan would be a global market chain reaction.
Bitcoin would break upward toward the resistance area $68,387- 69,000which has been building since November 10th, 2020.
If that occurs bitcoin could fall and complete a long striking falling wedge buying opportunity with a target of $42,000 and a liquidity pool around $37,600. Bitcoin could continue with selling pressure, or the big institutions will buy back bitcoin leading to an all time high price in a parabolic move toward $79,000, 100k, 150k, and 200k. Why so high? In short summary banks, coin IPO’s, Mining Harvests, Ripple, and AI
This would be the greatest buy opportunity for either any retail trader or institutional investors. Maybe even private owned firms, government agencies, and owners of any equity.
Scenario 2: A test of the $68’387-$69,000 area and a breakout to $73,000 could lead the price to $79,000. If this price is reached, bitcoin will either decide to test shaky hands and liquidate. As a matter of fact, new hands coming in, can squeeze toward $90,000 above 100k before deciding a true bullish path. Same rules apply on the buy opportunity. This would be parabolic as well which would make $42,000 the main support zone in a long term situation drawback.
This is just a prediction, good luck 😉