Patience is needed
It feels ages ago that Bitcoin reached a new ATH at 73,5k Dollar, doesn’t it? Well, actually that was 14 weeks ago. It’s a bit of time, yes, though we also had a hell of a ride before. But the correction being healthy doesn’t make it easy, does it?
On the weekly chart we are still seeing a running consolidation which might take us lower towards the 60k area, maybe a dive below that level one more time.
On the monthly chart though Bitcoin is sill looking very strong and bullish. We are up heavily this year.
Probably we will need a bit more patience over the next 2-3 months when the holiay season is on but I am sure afterwards we will see a continuation of the upwards trend and new highs. I still believe we will see the 100k this year.
How do you judge the current situation for our number one cryptocurrency?
