Bitcoin Bullish Scenario - Minimum will reach $75000

[StreakW]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.



If this scenario occurs then the current buy the dip will be very profitable.

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[Beparanf]

The chart seems bullish since that 1W timeframe which means the bullish trend will be strong once there's a reversal confirmation but since its a long time frame, We can expect the reversal in a couple of weeks or months since it needs to hit that trend line and bounce there to make this TA valid. There's a strong manipulation still ongoing so even there's a clear signal on long time frame, We might still encounter a huge wick downward.

[Tytanowy Janusz]

Bitcoin Bullish Scenario

1- Its a rising wedge (bearish pattern) with price target of around 5k$. I don't know how you call it a bullish scenario.
2- formation trading does not work that way, that you try to guess in which formation we are currently and trade inside formation. You see a formation, you wait for breakout with confirmation, with volume and than open position with price target around formation target. So your prediction has zero value from technical point of view. You only painted how a nice chart could look like.

[marine4u]

If this scenario occurs then the current buy the dip will be very profitable.

I like your analysis and brushstrokes.  If that is valid during higher resistance declines, when supply is dwindling, the price motives will translate.  I think everything has a loop and when it goes through a negative state, the positive repeats like a cycle, meaning the price reactions are bullish today.

That means we can expect a rally until the end of the year to ATH at 73-75k.  It won't be too hasty but it's still a possibility.

[dragonvslinux]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.

I'm not sure about $74K-75K being the next target. This assumes your two touch-points at resistance are a trend-line, but there is no third touch-point to confirm this as a pattern, for now it remains a co-incidental line drawn between two touch-points. If price were to get rejected from that trend-line again, then sure, we would have a rising wedge pattern (that'd be bearish for reference sake), and we'd be able to assume a target.

For an example of three touch-points that confirm a support or resistance trend-line, here is my new favourite. Could be a coincidence, but I now looking less likely:



I do like your support trend-line though, it does appear quite relevant as well as gives more credibility to price again finding support from $40K levels.

Personally I prefer the current interaction with the 50 Week MA, this being the third time it has supported the price in recent months:



Each to their own though 

[rodskee]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.



If this scenario occurs then the current buy the dip will be very profitable.

Hope that this will occur in 2021 year end and not for the next December lol.

Have been waiting since second week of November to cash out some funds for this holiday but sadly i am a failure because the price continues to dip and now i am trapped with only more than a week remaining before the year ends.

Hoping that we will be having a great increase in the last week of December before 2022 comes to take over.

[pooya87]

I somewhat disagree because both $60k and $70k are very strong resistances that would take a lot to break them and even when the uptrend resumes we are still going to be stuck behind each of these prices. That means breaking one like $70k could lead to a much bigger rise than a 6-7% rise ($5k).

[palle11]

As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur.

What I agree with is this and I think so far such candle is yet to appear. It is what will finally indicate a spontaneous switch but for now maybe we are still expecting that prices will hang and play around the resistance and support levels. I can't speculate where the big waves is going to blow but certainly a direction will open up by the end of this month.

[michellee]

It is not easy to reach $75,000 this year since we are now in the middle of this month which means, we have at least 15 days to see the new year. So if the scenario is just to increase the price to $75,000, I think it will be difficult for bitcoin to reach that price because bitcoin is now down too deep and we do not know when the price will rise again. So maybe the bitcoin price can increase but it will be difficult if the price wants to reach $75,000 at the end of this year. Maybe it will happen in the next year but we still need to optimist that bitcoin will increase before the end of the year so we can back to make a big profit before the new year.

[Yaunfitda]

It is not easy to reach $75,000 this year since we are now in the middle of this month which means, we have at least 15 days to see the new year. So if the scenario is just to increase the price to $75,000, I think it will be difficult for bitcoin to reach that price because bitcoin is now down too deep and we do not know when the price will rise again. So maybe the bitcoin price can increase but it will be difficult if the price wants to reach $75,000 at the end of this year. Maybe it will happen in the next year but we still need to optimist that bitcoin will increase before the end of the year so we can back to make a big profit before the new year.

The OP didn't say that his prediction will be hit this end of the month or at least this year. He just said that if ever we enter another bullish phase and this might be next year, the next target will be $74k-$75k. So the big question is when it will happen as I believed it may take months for us to reach that price. In any case, some indicators still points long term that we are still poise to make a bull run and even maybe hit 6 digits.

[DOH!]

It is not easy to reach $75,000 this year since we are now in the middle of this month which means, we have at least 15 days to see the new year. So if the scenario is just to increase the price to $75,000, I think it will be difficult for bitcoin to reach that price because bitcoin is now down too deep and we do not know when the price will rise again. So maybe the bitcoin price can increase but it will be difficult if the price wants to reach $75,000 at the end of this year. Maybe it will happen in the next year but we still need to optimist that bitcoin will increase before the end of the year so we can back to make a big profit before the new year.

We are in a not as good December as in 2017, clearly the shorts on 4/12 are creating a certain difficulty for bitcoin's recovery path, the accumulation process is still maintained. but the important psychological retracement is setting the decisive threshold to find a bullish structure sooner. I think it will be quite late to catch ATH at $75k when time is short but bitcoin always works wonders and maybe we could see a quick launch in the remaining 14 days.

I'm not a pessimist, but I'm more realistic when $75k is placed in January 2022

[hugeblack]

I also believe that breaking the 70k barrier may take time, but we will not encounter any resistance barriers between 70k to 80k, but the barrier will be from 82k to 89k.

If we go back a little, then several months ago we witnessed a bottom of less than 30k and a top at 68k.
And now we have a bottom at 41k and therefore the top will be higher than 78k, which may lead to 82k.

Personally, I do not expect an increase higher than 94k.

Again, the most pressing question is when will that be?

[buwaytress]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.

$40k is still a good 20% distance away so I'm not sure we can we're close to that (otherwise we're equally close to 59k and we're not).

I'm thinking as always that volumes are more important than anything else in terms of striking movements in either direction. I'll be happy to take and hold on to 60,000 for the new year... would still represent a highly impressive YTD.

[naira]

Thanks for the easy-to-understand graphics and explanations. Responding to the current condition of the Bitcoin price, of course it is still in a bullish point, the worries out there only result in people who don't know how Bitcoin movement is considered as destruction. It's a pity, isn't it? though we're still on a pretty safe line to collect a lot of Satoshi. So don't let us be easily provoked by news that seems as if the future of Bitcoin just fell apart. The FED may have discussed this at its December 13 hearing.

[wheelz1200]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.



If this scenario occurs then the current buy the dip will be very profitable.

I'm looking at the same type comparison. Really watching that bottom line because things are a bit bearish or at least pessimistic in terms of pricing.  Personally I think it's gonna break through the bottom line.  I think a lot of people are gonna sell off crypto in the beginning of the year to pay for some of the taxes they are gonna owe with everything doing so well, especially alts.

[TheEconomists]

Op I don't believe in your analysis because there is a indication of a downward trend only if you know what each and every candle stick stand for. Although, everyone is entitled to his or her opinion and that is why I see those who believe in your analysis are given you merit but in time we shall see the end result of this analysis if actually we have seen the last bottom.

[michellee]

The OP didn't say that his prediction will be hit this end of the month or at least this year. He just said that if ever we enter another bullish phase and this might be next year, the next target will be $74k-$75k. So the big question is when it will happen as I believed it may take months for us to reach that price. In any case, some indicators still points long term that we are still poise to make a bull run and even maybe hit 6 digits.

That is only a scenario that still has the possibility to happen for this year but I already said that it would be difficult to reach that price. If that is for the next year, bitcoin will have a big chance to rise and reach $75,000 even more. So in this matter, we still need to wait and have more patience waiting for that time while we can also have the time to buy more bitcoin. When the bull run comes again, I can not imagine how high the price will increase because that can break the last ATH so it could be somewhere high price.

We are in a not as good December as in 2017, clearly the shorts on 4/12 are creating a certain difficulty for bitcoin's recovery path, the accumulation process is still maintained. but the important psychological retracement is setting the decisive threshold to find a bullish structure sooner. I think it will be quite late to catch ATH at $75k when time is short but bitcoin always works wonders and maybe we could see a quick launch in the remaining 14 days.

I'm not a pessimist, but I'm more realistic when $75k is placed in January 2022

Bitcoin's recovery path is still on the way. We can only be patient and not panic if the price is down and up many times because that will happen to bitcoin and it is just beginning. When the price is at a very higher price for about more than $100,000, you can imagine how much the price can drop to the lower price and then go up again to the higher price. That can make us have a panic moment because we may think that the price will still go down for more. If bitcoin can have a quick launch in the remaining 14 days, that is good for us because we can go back to making a big profit as I believe that many of us have already bought bitcoin at a low price. I think it is just a matter of time for bitcoin to start rise so be patient.

[kotajikikox]

From the bearish conditions that we have experienced for almost the last month, we can see that the price of bitcoin is almost close to the $40k price level. As long as we don't find a large bearish candle, the bullish scenario for Bitcoin will still occur. The next projected bitcoin price target is around the $74k-$75k level.



If this scenario occurs then the current buy the dip will be very profitable.

Looking positively on this mate, The candle seems to be going to be  favoring us now at least before this Year ended?

I always look at this chart but did not realized this one you shared.

Op I don't believe in your analysis because there is a indication of a downward trend only if you know what each and every candle stick stand for. Although, everyone is entitled to his or her opinion and that is why I see those who believe in your analysis are given you merit but in time we shall see the end result of this analysis if actually we have seen the last bottom.

Just like OP you only has own Opinion ., you may be right or OP will be right but what's best here? you did not received any Merit because you are Bearish while many are still Bullish like me lol.

[Tumanggor]

Op I don't believe in your analysis because there is a indication of a downward trend only if you know what each and every candle stick stand for. Although, everyone is entitled to his or her opinion and that is why I see those who believe in your analysis are given you merit but in time we shall see the end result of this analysis if actually we have seen the last bottom.

The OP uses chart analysis and is not based on guesswork, so I appreciate the OP's analysis

Downtrends are common in bitcoin and after that the bulls can't be avoided, if you think the downtrend is long then you are wrong

[arufox]

Looking at the candlesticks in your analysis, I think based on this pattern the Bitcoin price will be bullish at least in Q3 2022 and the price will be in the $76k-$80k range. However, before hitting the $75k price target there may be a slight downside. Therefore, it is better to determine the right strategy to enter now so that when that scenario occurs we can get big profits. I am optimistic looking forward that a BullTrend will occur.