Hey guys. Hope you're all staying safe.

I wanted to give a brief refresher on what Bitcoin's price has done today, and what we can expect tomorrow.

If you follow this blog, you know I don't really endorse price predictions, as they are usually wrong because we cannot predict human emotion.

However, many readers of my blog like having predictions, so I've decided to do that.

I've also thrown the Bollinger bands and RSI into the mix, from my short term Bollinger reversion strategy that doubled my account in 2 months. I documented the journey on this blog, so check it out when you're free.

Ok. Let's analyse!

Recall this post? Where I expressed my concerns about Bitcoin's rising price but dwindling volume?

I did an analysis that said that we would reach 6900 or 7000 before a correction.

Well, we are at that stage today. We have currently surpassed the levels I predicted(which is why I'd rather react than predict), and are probably on our way to 7.2k.

However, I see a few discrepancies that I would like to share about the road back to $8k. Let's see a chart to visualise my discrepancies.

My worries about dwindling volume have since been catered to. The volume pushing Bitcoin up is very relevant, and more volume is incoming.

However, if we look at the chart again, we can see that the Bollinger bands have just come out of a squeeze. Usually, a squeeze of the bands signifies that an uptrend is close by. I believe that, with aid of the RSI reading of 69, that the strength of this uptrend is dwindling.

Should the volume return in full force however, we might see a very big bounce up to 8k, at which point my bias would switch to bearish, and I will look to short bitcoin to 7.3k.

So what might happen tomorrow?

We might see a move to 7.3k, and if we pass that level, 7.5k is imminent. If 7.5k isn't held, a fall back to 6.8k is possible. If 7.5k is held, it's all the way up to 8k for BTC, at which point my bias would switch to bearish.

However, only time would tell.

Thanks for reading guys. Remembered to stay safe!

And earn some bitcoin while you stay at home. Don't waste this free time. The halving is a few days away. Stack up on sats and be ready!