Bitcoin's Price Targets & Historical Trends

Bitcoins-Price-Targets-Historical-Trends

$BTC to $47'000 in the next few months?

We may be seeing a similar rally like the one in May 2019.

My thoughts and price targets:

As we had in May 2019,

a rally would mean that $BTC has a high chance of topping out between $42'000 and $50'000.

Since it's difficult to know when $BTC might be topping out, I will look at the unrealized profits and loss ratio.

0.54 was a significant resistance in July 2019.

There is a strong likelihood that investors will take some profits at those NUPL levels.

Even though history doesn't repeat, it rhymes.

On a long-term timeframe, this is the first wave of the next bull run.

What are your thoughts? 

Onchain_Edge