BTC forecast

2022년 8월 16일

BTC is currently sitting at 40%ish of its all time high. While still below its overall price median, opportunities for it being undersold look good. Price is still climbing steadily though so reasonable soon, it will be considered overbought .

Its 200 period daily moving averaging is still trending downward, while the 1 and 4 hour moving averages trend upward. This represents a short-term positive outlook where good quick profits could be gained. This is further supported by the very slow upward trend of the weekly moving averages.

Caution should be excercised as it approaches its median price. Statistical probablity suggests price reversion will be come more likely the higher the price goes above the median.

Considering the depth of the correction since the start of the downtrend from November 14th, 2021 onward, price is recovering relatively well, yet not too aggressively. A non-aggrewssive recovery really is a good sign for the market and a positive pulse of future growth potential.

A strategy reasonably aggressive, yet properly balanced with defense, could bring some very good results.