Hi guys,
Looking to purchase some btc in the coming year and looking for the best time.
Sold all alts a few weeks back and will switch back into btc when the price is right.
Ideal would be around 12k, within a year from now. Do you think its possible or am i setting the bar too low to fast?
Is this just a half time dip in the cycle and we'll see another ath this year?
I'm bearish by nature and I have patience so I'm not rushing to buy right now, but I'm interested in what your views are.
Thanks
I did a quick glance into the drop that happened in 2017 and what might happen this year 2021.
In 2017, there is a 70% drop from near 20k to around 6k. If you will plot it to the recent ATH and if it will duplicate it, we are seeing a price drop to up to the near $20,000 level. Aside from the $30,000 price support right now, $20,000 is what I'm seeing as a next strong support. $12,000? I don't want to say that it is impossible but it is less likely to happen.
There are 2 signs that we are in a bear market.
1. If we broke the strong support which is right now the $30,000.
2. If it manages to reach the 34 and the 21 weekly EMA and it failed to push through then that is also a sign.
This video from a great analyst might help others know to spot if we are in a bear market or not:
https://www.youtube.com/watch?v=BxFBFyJL7f0.