Bitcoin to $100k+?
The price of 
BTCUSDT at the moment is around $56,000, in a short term bearish momentum. If it'll break the $55000 mark, I think the Bitcoin can fall further till it reaches the $52,000 mark, and can take a reversal from that price zone and come back in a bullish momentum and would definitely cross the 100k in the long run.
Some of the reasons why I'm thinking like that:
- We can see it forming a Cup & Handle pattern from the Monthly Time Frame, currently falling to make a handle if it'll bounce back from the $52,000 mark.
- From the Weekly Time Frame, the Fibonacci's golden level (0.618) is exactly around the $52,000 mark.
- From the Monthly Time Frame, the Fibonacci's 0.318 level is also around the $52,000 mark.
This is just a perspective of mine, the previous liquidation grab have filled several gaps already, if it'll fall further I belief there will be a strong momentum and many buyers waiting on the 0.618 level or the $52000 mark to give it a healthy bounce back to 100k+.
BTCUSDT at the moment is around $56,000, in a short term bearish momentum. If it'll break the $55000 mark, I think the Bitcoin can fall further till it reaches the $52,000 mark, and can take a reversal from that price zone and come back in a bullish momentum and would definitely cross the 100k in the long run.Some of the reasons why I'm thinking like that:
- We can see it forming a Cup & Handle pattern from the Monthly Time Frame, currently falling to make a handle if it'll bounce back from the $52,000 mark.
- From the Weekly Time Frame, the Fibonacci's golden level (0.618) is exactly around the $52,000 mark.
- From the Monthly Time Frame, the Fibonacci's 0.318 level is also around the $52,000 mark.
This is just a perspective of mine, the previous liquidation grab have filled several gaps already, if it'll fall further I belief there will be a strong momentum and many buyers waiting on the 0.618 level or the $52000 mark to give it a healthy bounce back to 100k+.
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