RoYoK
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Bullish
🤯 Bitcoin traders are targeting a price of 138,000 dollars after the Coinbase premium reached a "break-even point
🪙 Bitcoin closed a daily candle above 100,000 dollars for the first time on December 8, but since then, it has only been above the six-figure level for six days.
A daily close above 100,000 dollars will be a crucial turning point, and Posty, a cryptocurrency trader, said that the current price action of BTC reflects its bullish rally from the first quarter of 2021. After considering the laws of diminishing returns over a four-year period, the trader believed that if BTC continued to follow the pattern of its previous cycle, Bitcoin would be valued at around 138,000 dollars in February.
☝️ Meanwhile, Cryptochimpanz, a Bitcoin advocate, believed that the monthly chart of BTC illustrated an "ugly" setup of the previous bullish cycle.
"BTC, unless we break above 99,000 dollars and turn it into support, I think we will see lower prices in January. Pretty simple triggers for me here: break and turn 99,000 dollars into support or test again the 90,000-88,000 dollar zone."
#BTC100KTrumpEffect $BTC
🪙 Bitcoin closed a daily candle above 100,000 dollars for the first time on December 8, but since then, it has only been above the six-figure level for six days.
A daily close above 100,000 dollars will be a crucial turning point, and Posty, a cryptocurrency trader, said that the current price action of BTC reflects its bullish rally from the first quarter of 2021. After considering the laws of diminishing returns over a four-year period, the trader believed that if BTC continued to follow the pattern of its previous cycle, Bitcoin would be valued at around 138,000 dollars in February.
☝️ Meanwhile, Cryptochimpanz, a Bitcoin advocate, believed that the monthly chart of BTC illustrated an "ugly" setup of the previous bullish cycle.
"BTC, unless we break above 99,000 dollars and turn it into support, I think we will see lower prices in January. Pretty simple triggers for me here: break and turn 99,000 dollars into support or test again the 90,000-88,000 dollar zone."
#BTC100KTrumpEffect $BTC
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