Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
as for short term price action i suspect a pretty deep correction, looking for ~31K. at the very least a very choppy sideway action for a while. can the price HODL at this local top for 3 weeks untill the ETF aproval? Maybe. but in any case i'm thinking correction (sooner or later) then grinding back.
but maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!
but maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!
Hopefully, you are not too wedded to the theory of down before up and as long as you are prepared for up before down and/or up before up as well as your down before up preference, then there should not be any problem.
i'm good either way, i'm not leveraged or anything, just some good old speculation with some cron trying to get more cron before the corn fest.
as for short term price action i suspect a pretty deep correction, looking for ~31K. at the very least a very choppy sideway action for a while. can the price HODL at this local top for 3 weeks untill the ETF aproval? Maybe. but in any case i'm thinking correction (sooner or later) then grinding back.
but maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!
it is far more likely to go to 48k by jan 1 then your number of 31kbut maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!
but if all etf action is not allowed til june or july we will drop in Jan.
and if the ETF is not approve (which i think there is a 10-15% chance of that) that would be hell bearish i'd move my target down to 20K
$20k seems a bit much, but I could see testing $27k or $25k again, and it would have to be pretty bad for $25k to break, including that BTC does not need any ETF in order to have a 4-year cycle and also exponential s-curve adoption based on metcalfe principles and network effects (Trace Mayer variation).
well the way i see it the ETF being approved is the reason we had a run up from 25K, its priced in now. So not getting approved means we need a massive correction, and a massive correction generally leads to some panic selling, if we don't have the ETF to look forward to and insted we are faced with a system that is Clearly trying to stifle bitcoin... in this scenario 20K seems very posibile imo. but, it seems more likely than ever before, that these ETFs will get a green light. and again because i believe this fact is already priced in, i'm betting in the short term we are moving DOWN and not up on this news, buy the rumor sell the news type deal, Its a solid trade imo, it sure is a lot easier to just buy now and hope that the etf approval means new ATH's, but we dont make money taking easy trades.