Quick review from some polls I stumbled across from @bitcoin. Not a fan of the twitter handle, but thought these were interesting to reflect market sentiment over past few days...



To summarise, ~60% think Bitcoin will close June below $20K. Only ~40% think BTC will close above $20K this month. 25% think price will close below $15K!



As of $20K prices, over 60% think Bitcoin hasn't yet reached max industry pain.



Again, the majority think Bitcoin will reach $15K before $25K in next three months...

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The reason I reference this, is because most Bitcoiners and traders get it wrong. Most thought $30K wouldn't break, but as soon as it did, those people were all expecting ~$15K prcies.

Assuming most voting in this poll get it wrong (again); Bitcoin closes June above $20K, the industry has hit max pain already and we'll see $25K before $15K 

At present, based on current price action, I think this is fairly realistic. My personal benchmarks for this type of reversal would be the following:

1. Closing today above $20K (roughly 10% below the 200WMA which wouldn't be a disaster). Ideally above $21K consolidation, but can't be too hopeful.
2. Closing next week above the 200WMA (which will be $22.4K next week). Reclaiming $20K would likely achieve this I think, especially $21K.
3. Then trading towards $25K the beginning of next week, before a correction, in order to close June comfortably above $20K.