Bitcoin due to pullback
After being rejected at $50k, it's time for some consolidation
Bitcoin was up for 5 straight weeks, we are probably due for a week or two of consolidation now.
What that means exactly is up for debate.
We are already at $48k though and looking for lower...
I suspect we are going slightly lower than $48k, but I don't think we go lower than $45k.
In fact, I am not even sure we get all the way to $45k.
What do you see?
Based on chart and price action, it's time to get some real support below $46 before those 60k lines (if it happen and we don't go back to 17kish zone). Now, let's be honest, patterns are only a baseline but not a real fact. Put a Musk tweet or a billions/trillion investment spike and technical analysis doesn't work anymore.
Bitcoin is not going back to $17k, probably ever.
Do you control all human brain at the same time in every single planet, galaxy and other possible dimensions?
No I'm simply following the patterns of what bitcoin has done ever since it was created almost 12 years ago. Throughout it's history it has never fallen below it's prior high, which means it isn't likely to ever fall below $20k again. If it did, it would be something different than it has ever done previously.