Like all other predictions, it is important to apply the fudge factor. Every prediction whether it comes from technical analysis or fundamentals is still bound to the irrational whim of the market. The current situation we find ourselves in with crypto is a very interesting position. The traditional market has tanked on Omicron (or moronic… take your pick which name is better) irrational fears. There is no evidence as to whether this fear is founded in reality or not but it doesn’t matter, the market reacted poorly. Bitcoin is up 204% on the year. We have seen a recent dip and massive bounce off of $53K. If we can close above $60K by the end of this week the probability of making a run past ATH is likely before the year closes. If however we break $53K and close below $50K we might very well see a massive bust as opposed to a boom. If I was a betting man, and I am… I would give the odds a 60/40 favor for a boom before year end. If we don’t break 60K by next week, we have a 50/50 chance of seeing another dip. Place your bets.
