Bitcoin to 80K, 52K ot 42K?
Interesting 3 scenarios for bitcoin:
Scenario1 - Break its ATH to 80K based on Fib1.6
Scenario2 - Drop to its 8 week EMA support line
Scenario3 - 30% correction to its long term 20 weeks EMA support line of 42K
An 80K could be the end of current bull market cycle and followed by prolonged bear market or consolidation period. However, 52K could be great for alt coins to rally even more. A correction of 30% to 42K most likely going to extend current bull market cycle and reposition overpriced alt coins back to their fair value.
Be prepared for all these three scenarios and have an exit plan to take profit, hedge agains short-term downsides and finally to DCA the dip.
Tell me what scenario is most likely in your opinion? And why? And what is your plan for any of these scenario happen?
Cheers,
QashX
Scenario1 - Break its ATH to 80K based on Fib1.6
Scenario2 - Drop to its 8 week EMA support line
Scenario3 - 30% correction to its long term 20 weeks EMA support line of 42K
An 80K could be the end of current bull market cycle and followed by prolonged bear market or consolidation period. However, 52K could be great for alt coins to rally even more. A correction of 30% to 42K most likely going to extend current bull market cycle and reposition overpriced alt coins back to their fair value.
Be prepared for all these three scenarios and have an exit plan to take profit, hedge agains short-term downsides and finally to DCA the dip.
Tell me what scenario is most likely in your opinion? And why? And what is your plan for any of these scenario happen?
Cheers,
QashX
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