Bitcoin and the yearly outlook
Above is two of the possible scenarios that we could see play out over the next year for bitcoin. As of the publishing of this post, Bitcoin has taken on a firmly bearish tone falling to as low as $7300. However, with this move we have successfully filled the last remaining CME gap at $7695. With that, the CME chart has also produced one of the largest CME gaps to date spanning from $9175 right down to $8280.
We are currently being supported by not only this smaller trendline within the larger range, Bitcoin is also currently experience a bounce off of the bottom level of the logarithmic growth chart.
In addition to this, we have the halving coming up likely in early May and that will likely be a strong catalyst for a major move to the upside. In the event of an obvious boune, i will be adding significantly to my long position, aiming to take profits at both previous highs of $14,000 and $20000.
We are currently being supported by not only this smaller trendline within the larger range, Bitcoin is also currently experience a bounce off of the bottom level of the logarithmic growth chart.
In addition to this, we have the halving coming up likely in early May and that will likely be a strong catalyst for a major move to the upside. In the event of an obvious boune, i will be adding significantly to my long position, aiming to take profits at both previous highs of $14,000 and $20000.
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