Bitcoin correction to parabola like in years past.

17 ene 2021

The longer it takes to correct, the higher the bottom price will be. If the correction occurred this month, the bottom could be around 16k. If the correction occurred in February, the bottom could be around 18k-21k. If the correction occurred in March, the bottom could be around 21k-26k. This is assuming Bitcoin respects the parabola like it has in past Bitcoin runs. If it went below the parabola to challenge the bottom trend line, don't expect a 100k Bitcoin this year as Bitcoin has historically followed the parabolic bull run line to peak at the top trend line in years past and would ultimately require a lot of investor confidence to climb back to new all time highs, imo. If it went below the bottom trend line, expect extreme panic and sell off.. but this won't happen though ;)

Keep in mind I am not taking in to account institutional buying this bull run, strictly going off of what the chart implies. Best case scenario Bitcoin doesn't correct and we just go ham to the moon but this is unlikely.