Insights

BTC Swinging Upward

We just had a pretty scary few days. $43K was expected to be the low range of the $10K tightrope. BTC broke right through $43K and crashed into the mid $39K area. We are currently (at the time of this writing) pushing towards $44K and are expected to hit resistance at $45K. We are sticking with our prediction of getting past $50K this month and doubt the bulls will push past $60 in January, this is contrary to other traders who expected as much (although they’ve probably changed their tune after this drop). In order for this prediction of a $50K run in January to be valid we MUST close on the weekly above $43K. This is a do or die scenario.

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