The following is our short term Bitcoin prediction. We expect to see bitcoin with in the following range in the next few weeks. From our analysis we expect to see high volatility and current trends to be broken.
Bull Case - 40% Chance
If bitcoin is bullish we expect to see the next resistance at 10k before seeing a small correction. The market have been very bearish in the past few month hitting the 10k mark will break current trend for Bitcoin. The likely hood for this to happen seems unlikely but if it does we will start a new bull trend.
Bear Case- 60% Chance
If bitcoin were to fall back down we can expect it to break the current support around 6k. If this does happen we see huge down sides. Our technical analysis say we will see bitcoin hitting around 5k before making a short term recovery. But it's very likely we see bitcoin at 3k level or lower because the 6k have been a very strong support.
Expected Return
Our expected return is about -7% when bitcoin is at 7.5k. On a more conservative side our expected return is about -23%. We are currently seeing a dip in bitcoin but from our numbers it's very risky to buy this dip.
DISCLAIMER: We do NOT offer financial advice. We are just offering our opinions. Erizun is not responsible for any investment decisions that you choose to make.