Where is Bitcoin headed in the Next Few Weeks?
With Bitcoin currently right over $38K and failing to break-out past $40K yesterday, where will we see ourselves in the short run?
Bitcoin price seeks higher low as trader forecasts $45K breakout within weeks
“The area immediately after $40,000 remains a decisive hurdle to overcome for Bitcoin bulls, with analysts arguing that doing so would unleash the bull market continuation that so many continue to wait for.
‘Did people really expect 45-48k in one day’” popular trader Pentoshi reasoned.
‘You broke the downtrend on high volume, you broke back into the range and made a HH on the daily. You teleported to resistance, it could take 2 or 3x to break it but that’s coming in the next weeks imo. Dips are for buying.’
That scenario would place BTC/USD on track to reach $47,000 in August, the minimum — if controversial — monthly close predicted by stock-to-flow model creator PlanB.”