Bitcoin - Next stop ATH or another drop?

Bitcoin price is in a pretty good position today. Bitcoin price is currently only a few percent below its all-time high. Currently, Bitcoin price is around $104,800. The most interesting thing is that Bitcoin has been consistently creating green candles for a long time. If you look at the candles for a week, you can see that Bitcoin has created five green candles in a row, which was seen a year and a half ago. Bitcoin is a few percentage points away from ATH, up +8% last week, and is currently trading above 104k. Many may be worried about which direction it will go from this position. However, it cannot be said exactly here because it is only a few percent below creating a new all-time high from here. It can also go down from here.

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The current Bitcoin price is in a mild bullish momentum at the position it is in. It is currently within a trend line, if the lower trend line breaks, it may go down a bit. So we can see a downward decline in the price of Bitcoin from this position. Of course, there are some reasons behind this. Again, if the price of Bitcoin can hold the current trend line, then we can be ready to go up and see it create a new all-time high very soon. Also, another factor involved here is that Bitcoin has liquidity at $107k. Now let's see if it goes up to take liquidity or if it goes down again to take liquidity at $98000. If it comes down, then it can take the lower liquidity.

But Bitcoin needs a correction to pump more. Then it will pump again. Now let's see what happens. The big question is whether we will see a new ATH soon. If we don't do that, we will see another big drop, as investors get frustrated and lose interest again in the summer. This could take us into the seventies, maybe even lower. But if we can break the previous 109k, there is room for a price level of around 120k. It will be more if the sentiment heats up again. We will see, the decision will be made very soon.

But another thing is that Bitcoin has left a CME gap near $92k. Another thing here is Bitcoin dominance. Which I try to write about in every one of my posts at least a little bit. If Bitcoin dominance decreases, we can see something good. Also, another important thing is that today Michael Saylor gave a new signal to buy Bitcoin. If that happens then we could see some bullish movement in Bitcoin price. However personally I think the chances of a new ATH are better, as we are not overheated yet, many investors still don't believe in the current rally sentiment. Retail is not back yet.