Two Possible Outcomes, One Direction

2021年1月31日

Moving forward I see two entries, dependent on stock market action. Best case scenario, BTC does what it always does and finds support outside of this breakout triangle. Worst case, the stock market plunges due to further GME destruction and we see the final retest of the .382 support level on the daily. Long entry lookout of 29.5k - 29.8k. 33-42% (Potential bottom out to $29.5 considered) to challenge top. Rejection linked to stock market short term crash brings a pullback of roughly -20% to strong area of old resistance around multiple 0.5 on the weekly Fib. Target between $35.4 and $36.2. ATH/Resistance becomes support. Bull run of another 166% rise to bring us new ATH of roughly $105-115k. Next round of sell offs to lose -30%, bringing us back down to approximately 80.0K.