Risk-Off Now. Six Figures Next.
To be clear: I still believe the bottom is in, and that we saw the final dip to $58K this summer.
But the headwinds, especially from the bond market, are strong right now, and Bitcoin continues to consolidate. As we struggle to hold the $80–83K range, the risk of another leg lower is increasing.
My target range for the coming days and weeks is somewhere between $66K and $80K.
High oil prices and rising Treasury yields are pushing short-term investors and traders into risk-off mode. In my view, the current weakness represents a great opportunity to build positions. The bull market is only getting started. Six-digit Bitcoin prices are around the corner.