BTCUSD to 200k? Certainly possible.

2024년 1월 8일

Bitcoin / BTCUSD is rising aggressively yet again, only 2 days before the SEC's decision over the ETF approval.

Technically the market is just coming off a Bullish Cross between the 1week MA50 and 1week MA100.

The last time this happened (December 2019) Bitcoin had just started the 2nd rally of the Bull Cycle (disregard the March 2020 COVID crash).

The 1week RSI is inside a similar Channel Up like in 2020 only 3 months before this Cycle's Halving.

So can Bitcoin repeat the 2020 rally? Certainly as the long term pattern is obviously a Channel Up.

Within this pattern, there is no reason why Bitcoin won't hit a price even as high as 200k during this Cycle.

Follow us, like the idea and leave a comment below!!