🚀 Is BTC correcting or TO THE MOON?

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Hello!

This is the question of the year, everybody is wondering if we are going to see another dip or if this is the beginning of a new Bull-market.
It has been a long crypto winter and sometimes we just think that we are starting a new bull market without looking thinks with perspective.

If we zoom out the chart price for Bitcoin we can see that we went from below the 5,000$ mark to 10,000$ in approximately 2 months. This is an insane 100% rise in a really short period of time.

btc moon.jpg

Source

However, if we zoom out more the chart we will be able to see that we are making lower highs since we reached the 20,000$ level. First we recovered until 14,000$, and now we are struggling to surpass the 10,000$ mark.

This doesn't look promising if we think that way, but this time the situation is different. We halved the quantity of the Bitcoins that are produced each day and with the same daily demand and less supply ready to be sold the prices should raise in the long term. The only left variable are the actual HODLERS that can decide to sell/hodl.

If I have to bet I think that we are going to see one more drop minimum. I am not sure that if we are going to see the prices skyrocket like the last bull run, I think this time it will be different until we get to the 20,000$ mark which is going to get interesting.

Enjoy! 😊

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8 comments
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I am short term bearish but mid term bullish ;-)

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I agree with you! Hopefully we are right! :)
Are you accumulating, waiting or just hodling?

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I am accumulating some while always trading ups and downs :-)

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Nothing moves up or down in a straight line.

BTC is likely in for a pullback but the trend does seem solid.

Not sure we will see the outrageous claims we see some making in the near future but moving towards the $14,000 previous high.

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So, it seems that I am not the only one expecting a little correction. You are thinking that it will be a small correction moving towards 14,000$ but in my case I think that we are going to struggle a little more to the 10,000$ resistance level.

The funny part is what we were talking the other day, all this metrics and comments we do are just random speculation as crypto is highly unpredictable.
In the meantime, here we are, witnessing the new tomorrow!

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Well even with the best metrics, forecasting price movements is all speculation. We are all trying to see into a crystal ball and predict what will make us money. It is the same for stock, commodities, and crypto.

It is an addicting game. In the end, staying in the game is often the most important point.

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