Bitcoin appears to be consolidating towards the CoinBase IPO on April 14:
i see two options on future price:
- @Raoul Pal guidance on Bitcoin seeing downward pressure due to the CoinBase IPO plays out, and Bitcoin price hovers in a $10K to $20K range for another month or two.
- Prior history rears its head again with the Halving Tracker showing a quick dip followed by a parabolic move upward as in the prior 2 cycles:
Note that Bitcoin‘s price also has an inverse head and shoulders pattern forming on the 8 hour, indicating that option 2 might be slightly more likely.
This pattern suggests a $72K target.
I still believe long term risk is to the upside, and am holding, Are there other possibilities I am missing?