In yesterday’s Blog we outlined that the daily showed downward pressure, while the weekly showed promise. Just as predicted the past 24 hours had indeed had weight keeping BTC subdued. Yet we are only a few days away from a likely break to the upside. Traders are keeping an eye towards $60K as the target for month end. We here at NMI however have a different outlook.
We predict a likely push towards $53K but don’t foresee a break above $60K this month. Our internal analysis points towards a February run towards ATH if $53K breaks in January.