Scenario Analysis for Bitcoin. Will it fulfill McAfee's $15K?
I see a definitive possibility of $BTC will hit $15K in July as McAfee predicted. I see two scenario based on two strong support lines (BLUE). The red lines are the predicted path within each scenario. These lines are based off a second fib retracement (shown to the right side to avoid clutter).
Scenario 1: Support offered by 7800 holds true. Assumption is that this turns out to be falling wedge reversal and slowly retraces it back is way $14-$16K by the end of July.
Scenario 2: Support offered by 6500 holds true.
In both the cases, the decisive factor is how long the price spends in the green rectangle box. Within this I will watch out for the bounce-offs. I tend to root for Scenario 1.
I do not think 6500 will be broken anytime soon. Even if it is the case we have time to get confirmations on them.
Scenario 1: Support offered by 7800 holds true. Assumption is that this turns out to be falling wedge reversal and slowly retraces it back is way $14-$16K by the end of July.
Scenario 2: Support offered by 6500 holds true.
In both the cases, the decisive factor is how long the price spends in the green rectangle box. Within this I will watch out for the bounce-offs. I tend to root for Scenario 1.
I do not think 6500 will be broken anytime soon. Even if it is the case we have time to get confirmations on them.