I've been seeing all these $100k BTC posts. I felt I had to clear the air immediately.

Most of these people probably have $50 worth of BTC or have never done TA in their lives. They aren't telling you the complete truth.

Bitcoin will reach 100k eventually. I believe this wholeheartedly. But here's why this year isn't the year.

1. BTC has about 8 key areas till 10k. And it isn't looking to pass them anytime this week.

BTC has about 8 key areas of support and support-turned-resistance to overcome before even thinking of 10% of 100k. This isn't a bad thing, but seeing as BTC hasn't crossed October's high by much this year, I'm skeptical.

Equally, BTC has been tightly ranging for about 2 weeks now. Bullish engulfed have formed near resistances and nothing much has happened. 

2. They're counting on the halving

Yes, the halving will spark a bullish trend. That's a definite possibility.

But looking back at the past halvenings, we usually see the big move happening at least 6 months after the halvening has happened.

Doing a simple calculation here:

• Halvening happens in May.
• May + 6 months: November 2020. Close to the holidays.

Should we do a little research, we see that prices usually dip a lot during the short 1 month before the holidays. This has happened a lot of times in Bitcoin's life, and I don't think this time will be different.

If we DO see a big bullish move towards the top in November however, I believe that that move will be somewhere towards 50k, as an average true range calculation will tell you. This isn't bad by any means, but it isn't $100k.

3. They're counting on you.

Yes, they're counting on you buying BTC because of their hunch. More buying pressure will increase the price to those levels. This might be an example of people who aren't whales trying to drive the market.

I have seen people who don't own Bitcoin or have never owned Bitcoin writing about it. How can they know the intricacies of they've only read about it?

Get your expectations straight, and don't expect $100k anytime soon. It will happen, but not soon.