As Supply Shock is expected to Overpower Bearish Technicals Bitcoin Price will bounce Back

Bitcoin Price will bounce Back

It is important to mention that very little room has been left for corrections with the presence of institutions and corporations with deep cash reserves, deep wallet and dwindling buying power.

Momentum can be turned down even for a little time, irrespective of the fact that care being brought up long before retracement reach to past bull market totals.

Also, before demands for BTC begins to plummet again and the available supply returns for investors to take profit, no BTC left to buy could cause a supply shock that derives prices to hundreds of dollars per coin. The aforementioned is regardless of any technical report.

The enormous outflow suggest that the top is nowhere near in sight and that investors that are bugger are currently taking BTC off the streets.

The line in the sand drawn between bears and bulls moving higher lies at $60,000. Another move beyond that level could be an all-clear sign that the rally is ready to continue higher.

 

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