šØ Do you expect to see Bitcoin at $70,000? Or is the market planning to surprise everyone?
The topic of price targets is always debatableā¦ and personally, I don't like to get too attached to them.
In a rising or falling market, setting a specific number can make you hesitantāyou either sell too early or buy at the right time. But if I had to define a range, after the market structure broke down in October, I was looking at the $70,000ā$74,000 range.
At the time, many thought it was a bit far off, but after a drop of more than $20,000, it became more realistic. The market always makes us change our minds š
Why this range specifically?
ā A correction similar to the 2019 scenario. I expect the correction to be milder and shorter than the usual peak lows.
ā As the market matures, the crashes lessen. With institutional investment and increased adoption, the corrections have become less severe. Personally, I don't see a logical scenario where Bitcoin falls below $50,000.
ā Previous cycle peaks often become support levels.
Historically, troughs are close to or slightly below the peak of the preceding cycle, giving the area significant technical weight.
But stillā¦ history isn't gospel š It's just a factor that helps with probability.
So why don't I like targets?
Because they give a false sense of confidence.
š In a bull market: you wait for a higher number and miss the profit opportunity.
š In a bear market: you wait for a bigger drop that might not even happen.
That's why I treat them as potential levels, not fixed numbers.
For example, we might see a large accumulation (wyckoff) between 76,000 and 80,000, and then you have to go with the price movementā¦ not with the number you have in mind.
In short:
Those who know how to adapt to the market are the ones who thrive in it.
And if you're asking me about the number so far?
I still see 70,000-74,000 logical entry pointsāand my view hasn't changed in months.
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