What do I think? Well, I think to be considered back into the bull run, we will need to get above the 21W EMA and 20W SMA, which historically I believe pretty well delineates bullish periods vs bearish. So for that to occur, from where we are now, we'd have to move at least another $8680.00 in the + direction, then I'd need to see us stay above that line and range within the red zone, another $4500 to $9000 to the + and stay there.
Considering the volume needed for that, it will have to be institutions getting in strong. We know several countries are getting in, and the $40,000 price tag may not be such a deterrent, but for banks, hedge funds and others, I think they are going to want to see the price back down around $30-$32K, so we could see some more manipulation and some sort of dip for that.
For now, I think we stay ranging in this $38,000 to $42,000 range for a couple of weeks if not maybe months.
But I'm just guessing here. Bitcoin always does the opposite of what you think it will do.
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_TbaeTrades:
Your investments are your responsibility
I do not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of reading any of my publications. You acknowledge that if you use the information I provide, you're at your own risk. i do not offer investment advice and nothing in the calls that is or tobe published, should be construed as investment advice.
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Considering the volume needed for that, it will have to be institutions getting in strong. We know several countries are getting in, and the $40,000 price tag may not be such a deterrent, but for banks, hedge funds and others, I think they are going to want to see the price back down around $30-$32K, so we could see some more manipulation and some sort of dip for that.
For now, I think we stay ranging in this $38,000 to $42,000 range for a couple of weeks if not maybe months.
But I'm just guessing here. Bitcoin always does the opposite of what you think it will do.
DISCLAIMER:
_TbaeTrades:
Your investments are your responsibility
I do not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of reading any of my publications. You acknowledge that if you use the information I provide, you're at your own risk. i do not offer investment advice and nothing in the calls that is or tobe published, should be construed as investment advice.
_#TBAE
