Bitcoin price reached $62,998 this morning, fulfilling our expected growth target from our previous forecast. Therefore, today we will make a new Bitcoin forecast!
Yes, we wanted to see the growth of Bitcoin after a minimal correction, but they did not give it. Buyers have shown that they have enough strength for growth and correction for the BTC price to catch their breath.
Such strength and purposefulness of buyers immediately suggests that the Bitcoin price will soon update its high and head along the white route to $80,000-90,000, per BTC at least.
The possibility of such a development of events fits very well into our idea of ”An alternative scenario of price movement for 2021″ from 01.06.2021. Mention that when we wrote such a forecast, there was despair and groaning in the cryptocurrency market. Deposits sagged by -50-80%. The BTC price forecasts were for a fall to $10,000-20,000. Therefore, this is the name.
But so far, the BTC forecast is working out very well.
What news background in the crypto market do we have now?
Positive from all sides: trusts bought Bitcoin up to their ears, ETF accepted, etc. And we still do not read the news and do not delve into them. there are already so many of them that all our information boards are breaking through 🙂
But in the head we have picture since 2018. Whoever traded then will agree with us or not, but we can discuss this in the comments.
Then in 2018, 4-6 different ETF were supposed to be accepted, but Bakkt was supposed to become the cherry on the cake, which was obliged to provoke an increase from $ 6,000 to $ 20,000 and everyone was waiting for this. Bakkt was launched in mid-October 2018, and already in November we got a powerful fall from $6400 to $3200 … believe me, for those who lived then with news hopes for growth, it was very painful for the deposit. By the level of pain for the deposit, it can be compared + \ – with the fall period May-June of this year.
Well, how not to brag?) We were then in shorts loaded to the full and our portfolio will confirm this. Therefore, all that we write is from the traded experience in the world of the crypt.
Today 10/19/2021 Bakkt is losing more than -6.4% on the first day of public trading on the NYSE. This is either a coincidence or a signal from above, but it is as it is)
We called the $62,000-63,000 zone critical for the growth of the Bitcoin price, because here the formation of the second top of the global reversal pattern can begin. This scenario is bad for small speculators, because there will be no quick earnings. But very good for large clients, because they will be able to squeeze out a lot of BTC on the cheap in small players. The minimum target for working out such a scenario is in the range of $12,000-16,000 per BTC and schematically fits into the fractal that we presented with the idea at the beginning of the year in February 2021.
Also, the fact that Bitcoin is being sold is most likely due to the growth of sales, we may be prompted by the trades delta. The higher the price, the greater the bias towards sales in consolidation.
Negative Bitcoin forecast and its targets
If a global correction begins in the coming days, then maximum attention will need to be focused on the $31,500-33,000 zone. There, the future of the crypto market for 2022 will be decided and, accordingly, the continuation of the fall according to the red scenario or the activation of the blue scenario and the beginning of a new growth wave.
Moral: there are a lot of analysts and specialists with their own thoughts, as well as a lot of “invited” news and ideas that are released into the media space when it is necessary to deceive the majority as much as possible in order to make big men.
Turn on critical thinking to the maximum, do not expect that the market “has to do something” or “altcoins should catch up with Bitcoin” or any other generally accepted phrases – this is a cruel and unregulated market and no one owes anything to anyone.
Someone here will see “Fight without rules” and the other – “Squid game”, it all depends on you and on your discipline. If you give up slack or overestimate your strengths by taking too much leverage or risks – you will lose everything and no one will return the deposit to you! If you want to trade on the cryptocurrency market with professionals – follow the link.
Everyone knows that there are long positions and short positions, but there is still almost the most difficult position – waiting. It is in this position that we are now. We are patiently waiting for the activation and confirmation of one of the scenarios that we have planned for ourselves in advance.
We trade probabilities and are never 100% sure of one of the scenarios – it is this lack of engagement with a specific possible scenario of the event development and the absence of fanatical attachment to crypto projects that give us the opportunity to win and survive in the crypto market for more than 5 years.