BTC can tap 7,000 to 10,000 and this is WHY

DXY is completing a major bearish retest currently - on the minute time frames. This breakdown is a multi-month trendline, and what the DXY / Bitcoin correlation would indicate, is that we can expect an extended bull run of 1-2 years.

This rise in bitcoin has been a straight shot up on the high time frames. What this tells me is that this move is a bearish retest.

Identifying this trendline on BTC chart - price is underneath the breakdown line at 63,850.

There are many large open order gaps on the BTC chart below the current price. These open gaps are filled with long position stop losses. These are leveraged sell orders.

It is possible that Bitcoin will drop to hit 8,000 in a very short amount of time.

1. We are underneath the breakdown line
2. There are enough stop loss orders (leveraged sells) to create an automatic chain reaction of a drop to that low level. The lack of retracement on BTC over the last 1.5 years shows intention to leave these order blocks intact so that speed of this move is generated.
3. DXY indicates a justification for this move to occur as reason to drop a bearish pattern over a long term period isn’t showing.

I encourage you to stay open minded to this possibility.

I logically can see this happening very quickly.