🔥 The Bull-Run Is Not Over Yet: $100k BTC Target Update

١ أغسطس ٢٠٢١

Almost 2 months ago I made a long-term Bitcoin analysis where I argued that BTC was still trading in an upward sloping channel, and thus the bull-run was far from over. In the end it was not the purple support I drew that held, but rather the (updated) blue dotted support line that functioned as a spring. See the post below for my old analysis from 2 months ago:

At the moment, BTC is trading closely to the purple support (which is now a resistance). I'm expecting a minor bearish move in the coming days, we've seen an incredible run-up over the last two weeks, so it's to be expected that we will go down a bit. In the end, the purple support won't hold, and we will see a new All-Time-High this year.

As mentioned in earlier analyses, the bull-cycle is far from over. There's a decent chance that we will see another 6 months of bull-market coming to us.
See my post below where I dig deeper into this subject:

As for the target of the current bull-cycle, I'm looking specifically at 100k. It lies at the 1.618 extension of the latest leg up that we got, plus it's a huge round number that investors are looking at.

Happy trading!