My forecast for the next few months. Bitcoin is in a descending triangle formation. I reckon that breaking out of it at this point is unlikely due to bearish divergence, massive resistance by the trendline and the middle of the log growth curves, as well as the upcoming month of September - historically a negative month for BTC. I expect BTC to NOT hold the bull market support band (20W SMA; 21W EMA) - one of the most important lines in the sand in crypto, from the first try, rather test it as support again at lower prices in the 30k's. 30k bottom provides serious support, likely to hold.
I've drawn an exemplary projection of the price, which is by no means a predicition. Test of the ATH early 2022. Next year will be massive for crypto. But for now we wait. DYOR, none of this is financial advice.
I've drawn an exemplary projection of the price, which is by no means a predicition. Test of the ATH early 2022. Next year will be massive for crypto. But for now we wait. DYOR, none of this is financial advice.
L.