I have deduced three possible future trends for Bitcoin, for reference only:
First trend:
😍 As shown in the blue trend in the above chart, a W-bottom structure has formed in the range of 98,000-110,000. Next week, it will directly break through the upper boundary of the descending channel, starting an upward trend, with a target price of around 150,000-160,000. This is a relatively optimistic and strong trend, with a probability of 30%;
Second trend:
😀 As shown in the yellow trend in the above chart, it will peak around 110,000 next week before falling back for adjustment, with the price dipping again to around 98,000 to build a bottom, then rising again to break through the upper boundary of the descending channel; there will be repeated oscillations and consolidation within the descending channel framework, and ultimately, it will successfully break through, heading straight for the target price of around 150,000-160,000. The probability of this trend is 50%;
Third trend:
😎 As shown in the green trend in the above chart, it will peak below 110,000 next week and then adjust downwards, with the price only falling back to the midline of the descending channel, around 102,000, to build a bottom through oscillation, and the bottoming process between 102,000 and 110,000 may last for about half a month. Ultimately, it will break upwards successfully, heading straight for the target price of around 150,000-160,000. The probability of this trend is around 60%;
Why do I think the probabilities of the second and third trends are relatively high? Because the bullish volume in the past two weeks has not been strong, but rather shows signs of weakening. On the daily level, there is a divergence between volume and price, and another adjustment downwards for Bitcoin may not necessarily be a bad thing; instead, it could accumulate more bullish volume, laying a more solid foundation for the subsequent upward breakthrough.
Based on the fund flow of Bitcoin ETF institutions in the US over the past two months, ETF institutions have been buying more and selling less, especially the BlackRock Group and MicroStrategy, which have been continuously buying Bitcoin. Additionally, some international companies and various states in the US have been supportive of Bitcoin purchases.
The flow of funds and the strength of volume determine the direction of the medium-term trend. Therefore, the final result of these three trends I have deduced is that this descending channel is a bullish continuation structure, and the price of Bitcoin will eventually break upwards, starting a new round of upward momentum, with the target price directly aiming at the range of 150,000-160,000.
The above deduced trends and price predictions for Bitcoin are merely personal opinions, for reference only, and do not constitute investment advice. Profits and losses are self-responsible.
