I was admitted to the hospital for surgery on June 24. Before getting in, Bitcoin had gone to $35k. I went happy and some of the nerves from the upcoming surgery were settled thanks to bitcoin. For the rest, general anaesthesia worked well. I came out yesterday, turned on my phone and 2 notifications from Coinbase - BTC down 5% to 33k, BTC down 5% to $31k. Yesterday, BTC touched $30k again. Against my earlier claim, $30k again acted as support once again and the bulls were able to defend this level.
$30k is extremely weak support and I can't believe it has been defended so many times. This last bounce was quite surprising for me. Bitcoin is out of the danger zone once it goes above 200 DMA and starts trading above it, possibly after re-testing it.
No matter what the price action, bullishness still persists on crypto Twitter. $100k is the minimum that most people expect, including me. $100k means ~3x from here in say 5 months. That does not sound outrageous at all. PlanB's most optimistic scenario level for BTC for 2021 is $450k (15x in 5 months). Definitely outrageous! Here is a chart for you to enjoy with both those levels -
Not the best of charts but good enough to help ignore all the market noise now.