Bitcoin Short Term Consolidation
It's easy to say that Bitcoin will fall back to it's previous high of 2018 at 19/20k 'ish because the recent CRASH was so dramatic. You can call it a "correction" all you want but I'm calling it a CRASH because that's exactly what it did.
However, with so much institutions now invested in Bitcoin, I believe that the true value of Bitcoin is between $30 to 40k; so about 35k average (Tesla estimate).
I believe that institutions have been buying the recent dips to hedge against hyper inflation but because this asset is so RISKY and volatile, they've been taking LONG + SHORT POSITIONS and locking in PROFITS to keep their clients happy!
These institutions are so powerful, they control the news so don't believe everything you see and hear.
I think that today's "rebound" is nothing more than a well planned and well executed BULL TRAP to shake out retail investors in the short term while the SMART MONEY waits for more news in regards to MORE REGULATIONS, bans, adoptions and of course the FEDS monetary policies (INTEREST RATES), jobs reports, FAKE NEWS and Jim Crow Joe's dementia and Santa wish list.
I'm long on Bitcoin and truly believe it IS the new "digital gold". If you don't believe in the future of crypto currencies, go back to trading Biotech stocks to get rich!
This chart is my SHORT TERM OUTLOOK with two possible directions. If the 30k support cracks open because J Powell decides he's no longer a Republican and wants to ban all private innovations (like Joe Bye Then), the next stop is the G-Spot at 20k.
Don't be so quick to go all in, get it nice and wet before you rock the boat! If you focus too much on climaxing, she will leave you hurt and dry!
Good luck!
However, with so much institutions now invested in Bitcoin, I believe that the true value of Bitcoin is between $30 to 40k; so about 35k average (Tesla estimate).
I believe that institutions have been buying the recent dips to hedge against hyper inflation but because this asset is so RISKY and volatile, they've been taking LONG + SHORT POSITIONS and locking in PROFITS to keep their clients happy!
These institutions are so powerful, they control the news so don't believe everything you see and hear.
I think that today's "rebound" is nothing more than a well planned and well executed BULL TRAP to shake out retail investors in the short term while the SMART MONEY waits for more news in regards to MORE REGULATIONS, bans, adoptions and of course the FEDS monetary policies (INTEREST RATES), jobs reports, FAKE NEWS and Jim Crow Joe's dementia and Santa wish list.
I'm long on Bitcoin and truly believe it IS the new "digital gold". If you don't believe in the future of crypto currencies, go back to trading Biotech stocks to get rich!
This chart is my SHORT TERM OUTLOOK with two possible directions. If the 30k support cracks open because J Powell decides he's no longer a Republican and wants to ban all private innovations (like Joe Bye Then), the next stop is the G-Spot at 20k.
Don't be so quick to go all in, get it nice and wet before you rock the boat! If you focus too much on climaxing, she will leave you hurt and dry!
Good luck!
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