Weekend Outlook: Bitcoin Today
I’m still consistent with my previous content: Bitcoin needs to form a Higher Low before continuing its climb to $90,000–$100,000. A Higher Low doesn’t have to come in the form of an inducement; the market can simply move choppily, and that also counts as an HL...
So, my outlook is that Bitcoin could return to the $77,000 and $73,000 areas. In my opinion, those are two targets for the sweet spot:
Conservative: $77,000
Inducement: $73,000
This is supported by our Stochastic technical data, which hasn’t returned to the neutral zone and is still overbought. There’s still a chance of a red candle this Sunday. From a macro perspective, CPI and PPI data are heating up, which is bad news for risk assets.
So, the $77,000–$73,000 range looks attractive for re-accumulating ahead of the next bull run.
That’s all for my Bitcoin insight. See you next week!
$BTC
Follow for more
I’m still consistent with my previous content: Bitcoin needs to form a Higher Low before continuing its climb to $90,000–$100,000. A Higher Low doesn’t have to come in the form of an inducement; the market can simply move choppily, and that also counts as an HL...
So, my outlook is that Bitcoin could return to the $77,000 and $73,000 areas. In my opinion, those are two targets for the sweet spot:
Conservative: $77,000
Inducement: $73,000
This is supported by our Stochastic technical data, which hasn’t returned to the neutral zone and is still overbought. There’s still a chance of a red candle this Sunday. From a macro perspective, CPI and PPI data are heating up, which is bad news for risk assets.
So, the $77,000–$73,000 range looks attractive for re-accumulating ahead of the next bull run.
That’s all for my Bitcoin insight. See you next week!
$BTC
Follow for more