A New Bull Case To Put BTC To 230K in The Next Few Months; But What is the Past Trend Saying

On June 15, after a prolonged period of continuous market movement, BTC recorded new highs but has since consolidated at lower levels over the past few days. However, according to Crypto Twitter, the market is unlikely to consolidate anytime soon. On the contrary, this is just going to be a new beginning in the making. Cas Abbe has hinted at 30 top indicators predicting that BTC will soon push levels to 230K and beyond. 

Indicators To Push BTC To 230K levels

The Secrets Of the Past Still Haunting: Short-Term Rejection On the Cards  

But despite the uptrend that all these indicators are suggesting, a larger section of the investors have a different view because of the ongoing inflationary crisis and the war-like situation exploding in various parts of the world. For example, the present Iran-Israel war has already given a beating to the BTC expectations. At the same time, BTC is mimicking the same movements that happened when the COVID-19 pandemic or Coronavirus peaked back then. For example, in 2021, when Covid 19 peaked with the second wave, BTC touched new highs of $60,000–$64,000 in the same month, recording the ATH at $64,900 on April 14, 2021, which coincided with the Coinbase IPO. But it was soon followed by a market breakdown to 50K levels. In between, three price points were tested at around 60K, 55K, and 50K. After that, the coin lost more than 70% of its value. 

In the present context, the same patterns are repetitive, with the Bollinger bands printing the same patterns.

Now, usually, when there are three consistent lows, it is followed by a momentum upwards. But at present, the macro factors are not in favour of such movements, and the accumulation phase of the token is appearing more distributive with a considerable retail/ institutional participation in a balanced way.