On the 8th of January 2021, Bitcoin hit it's local top at around 42000 USD per BTC.
img src: tradingview.com
Then after, the price have been trending downwards. There were many articles that have been published stating that Bitcoin was going to drop to 20K. Then there have been dramatic episodes by YouTubers. However, 30k have been a strong support level.
Then when all hope was lost, Elon Musk gave us a gift and it was the Elon Pump that pushed Bitcoin out of danger.
img src: tradingview.com
The Elon pump last week pushed Bitcoin's price back to 38K level. Then some retracement occurred. I made my own analysis to roughly get an idea of where Bitcoin is going to head to.
As of yesterday, Bitcoin has broken the resistance of the ascending triangle breaking it's previous resistance which was the high of the Elon Musk pump. The next target area is going to be at around 44k to 45k range. I think once Bitcoin breaks that 42k level, it enters a new price discovery mode which would have the world notice this new asset class.
THE GLOBAL TOP
Img src: Google.com
January was a lackluster month. At this point of time, I think the best strategy is to just HODLER. I tried to trade and I lost a couple of my overall Ethereum and Bitcoins, So at this point of time, I am just going to HODL until I see any strong signs of correction but only a portion of my overall portfolio for trading purposes.
January 2021 is like July of 2017. I think for the next couple of months, we would see a rapid ascend and by July 2021, this acceleration is going to quadruple in speed.
Img Src: Tradingview
Can't believe what I am seeing here. The 2018 peak looks like a hill at this moment and by the end of September, it would decrease to a mere bump.
I am just Hodling at the moment, I do not want to wake up and the price has doubled or even tripled. That has been the case of me losing my Ethereum this bull cycle.
@luueetangThese are just my own opinion and not financial advice, do your own research too.. Have a good day.