Bitcoin hits its higher price ever again today... It continues to happen.
Seeing that we are having lots of "political trouble" within the USA and the fact that Bitcoin is now considered a safe haven for fiat currency printing, we would like to update our final target for this "small" rally and go beyond $46000...
We are now aiming at $73200 and beyond since the new administration will only increase fiat printing by 10X... With this small detail in mind, we know that Bitcoin & Cryptocurrency will continue to succeed and increase.
Recently, we published the BTC.D chart, and in my latest bullish BTCUSD article, I mentioned that "Bitcoin can grow together with the Altcoins", and this is exactly what we are seeing now.
The RSI hit its highest level since December 2013... Talk about CHANGE.
I am still not sensing any FOMO. This doesn't look "uncontrolled", instead, it feels like prices can continue moving UP for LONG...
What's your take?
This is Alan Masters...
Thanks a lot for your amazing and continued support. 😁
@alanmaster dude! Come on, people will fall for this. Bitcoin ain't going to 76k in the short term (yes, sometime in a couple of years), sure... But for now, we are too much over heated, highest open long open interest, 10x funding rate, long squeeze is a real possibility... Bitcoin will cool off for a bit, it won't keep going up at this rate ...
IamPhoenix33
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@FahadAhmedda I guess you didn't see the crypto market movements in 2017? Just a few months ago most people thought Bitcoin wouldn't break 20k before mid-2021. 💋
@FahadAhmedda, PTJ and Druckenmiller both have said BTC is undervalued. I don't know what the truth is, I'm new here to the crypto scene. All I know is I'm listening to everyone.
What if Jones and Druckenmiller are accurate and BTC is undervalued? Wouldn't that line up more with what BTC continues to do as well as what Alan is saying here? What if it's just rising to what it's true value should be, or rather to it's accurate valuation?
AlanSantana
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@FahadAhmedda, There is nothing short-term in the weekly chart...
It can wick out to higher than 76K... So, even if it doesn't get there, this is a huge possibility in the short and mid-term.
Everything is possible in this market, just remember that it was impossible to see a $5,000 Bitcoin just a few years ago and today $5,000 is something that nobody in their right mind would even dare mention.
FahadAhmedda
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@alanmasters, I love your work man, but with every analysis you do, you gotta know people will think it will happen tomorrow ... All I am saying is, patience..it will happen but will take time... what's medium term for you btw ?
Container
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@alanmasters, 5k is also possible. THIS IS CRYPTO :)
But such rapid growth = fast down free fall ...
FahadAhmedda
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@alanmasters, told you. It will dip to 25k or 16k first before heading anywhere near the 46k or 76k level. I am sure many went long based on this TA... As always, people learn the hard way.... For anyone who held on, no choice but carry this bag for a while (don't sell) for a loss. In 2021 you may see 50k (maybe again), but eventually bitcoins going up (few years)