There will be a pullback from the highs.
I estimate a pullback from here would take it to $5100. This scenario would probably see bitcoin end the year between $12,000 and $10,000
There will probably not be an additional short squeeze/FOMO pump to $8500. Shorts and longs are coming into balance.
If it stays around the $7000 level until closer to the end of May I estimate that support after the retrace would be found around $6000.
If it finds the lows mentioned above before the end of May It would still be advisable to wait for confirmation.
I estimate a pullback from here would take it to $5100. This scenario would probably see bitcoin end the year between $12,000 and $10,000
There will probably not be an additional short squeeze/FOMO pump to $8500. Shorts and longs are coming into balance.
If it stays around the $7000 level until closer to the end of May I estimate that support after the retrace would be found around $6000.
If it finds the lows mentioned above before the end of May It would still be advisable to wait for confirmation.
