We can sleep at this position $11,8k for serveral days more before hitting the base of the channel, so let's take a breath before the next rally. So far so normal
Breaking the support in at the base of the channel would definitely not be a good sign, but we have some days before worrying about that, unless things go crazy
In the long term, sentiment remains bullish:
Speaking in an interview with Yahoo! Finance on Aug. 9, the notoriously bullish Draper doubled down on his prediction that Bitcoin will hit $250,000 by 2023. Due to current trends, however, there might be a slight delay to the giant price tag becoming reality.
“It’s consolidated more than I thought it would,” he told the network.
Draper is well known for his Bitcoin price prediction, something he has repeated multiple times over the years. Now, he considers a likely time frame for the prophecy fulfilling itself as somewhere in the next four years.
“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he added.Tweet