Bitcoin RIPS 24% as $2.6 BILLION Floods Back Into Crypto

On Bitcoin

Guest Alex Thorn · not counted as The Wolf Of All Streets' view.

Views

• Next weeks (next 2–6 weeks): Sideways (timeframe is our reading): basically definitively we're in this 200 week to 50 week moving average range now. ▶ 1:03:14
• This cycle (next 6–18 months): Leans up (timeframe is our reading): I don't think we're going to retest 58 and actually make a lower bottom personally. ▶ 1:03:04

If this, then that

• If Bitcoin gets a good close above the 50-week moving average, then no target given (this cycle): can we get a good close above that 50 week and I think then you really do change the regime. ▶ 28:10
• If Bitcoin fails to retake the 50-week moving average and establish higher, then no target given (next weeks, by over the next couple weeks): If it's not the if we don't retake this 50 week and sort of establish higher then it's very likely to revert down into the 60s and and test those again. ▶ 1:02:15

Levels named

• 81–82k: Resistance (Bitcoin needs to recapture the 50-week moving average; 11 of 13 past upside crosses in bear markets signaled the bottom): really does need to recapture the 50-week moving average here, which is like Mike said it's at 81 around 81. Mine mine says it's around 82 ▶ 26:29
• 58k: Their view is wrong past this (A retest of the prior low would risk a lower bottom): I don't think we're going to retest 58 and actually make a lower bottom personally. ▶ 1:03:04

Their own position: Not said.