It will be very volatile, but I expect the next level to be reached with a parabolic surge is 50k. I marked it on the chart. It tracks along with the megaphone trendlines that encompass BTC's volatile but directional movements towards the upside.
The base trend line should be a support level on the way up. The top trend line should provide some resistance as there will be sell orders set up for certain price points.
Ah, I have to agree with KennySZento from what I'm learning this looks like a pull back to $31500 or lower to $27000 buy late next week.
EBITDAtiger
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@Clevortrevor, I have the support level on the chart at 30,100 roughly. I do think it will pull back before it takes off, and it will definitely not be as smooth as it was from 20k. But whenever it drops like that it is just a buying opportunity if you believe in it long-term, which I do. And I also believe a lot of inflation is around the corner. Just my thoughts.
@KennySZento, well, load the boat on the way down! Cuz it will eventually hit $100,000 because of the finite supply and increased demand. Institutions like Blackrock, which has AUM of roughly 8 trillion dollars, as well as many others like it have started taking BTC seriously and buying in. It will always have precipitous drops, but it always rages back parabolically, It is also more accessible now and is a better inflation hedge than gold with looming inflation from all the printed money by the fed.