$3800 is a possibility before bulls take the stage
Almost 2 weeks have past since my original post and although there was some accumulation before the actual start of the downtrend, my prediction is currently still proving to be valid. With that being said, the factors to consider are all wildcards. We have no reference to go by. The Fed is in strong discussion of sending out a 2nd stimulus. Bitcoin's historic options expiry has everyone on high alert for big movements in the market. Covid-19 restrictions are heightening just after the mild easement due to an explosive number of new cases. Not to mention with US regulation laws, Bitcoin isn't exactly detached from the traditional market. The Dow closed on Friday down 2.84% (-730 points).
I believe we will see some abnormal market activity that could create unnecessary buying pressure (FOMO) with invalid bullish activity. I see a bull run attempt around support in the $7000 range as stated before but if we breakthrough that we could drop as low as $3800. And that is going to create some fear and some amazing buying position opportunities.
I believe we will see some abnormal market activity that could create unnecessary buying pressure (FOMO) with invalid bullish activity. I see a bull run attempt around support in the $7000 range as stated before but if we breakthrough that we could drop as low as $3800. And that is going to create some fear and some amazing buying position opportunities.
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