Re: Do you think their will be another Bull Run this year? I D0 NOT THINK SO!
There's two major theories here. One is the bearish descending triangle. If it breaks down, most traders are aiming at the $2,000s or $3,000s.
The second is a rising bottom. Here's one example of a Wyckoff accumulation schematic:
We need to see a sign of strength (SOS) to confirm. And if we do go that way, I don't think it'll be a bull run like last year. No ATH expected. I think it'll be a mid-term rally that tops near the $10K or $12K resistances, or maybe a bit higher.
I dont believe in these charts because it misleads people and the result always differ from such charts. The current market situation tell another theory and that is no demand for bitcoin, the investment cap in not increasing due to low or no demand and price is almost stuck between $6000 and $2000. $20000 and $30000 is far away from the current bitcoin price.The second is a rising bottom. Here's one example of a Wyckoff accumulation schematic:
We need to see a sign of strength (SOS) to confirm. And if we do go that way, I don't think it'll be a bull run like last year. No ATH expected. I think it'll be a mid-term rally that tops near the $10K or $12K resistances, or maybe a bit higher.