Ok, it's time to listen from another experts here.
A crypto trader and analyst, going by the Twitter handle @filbfilb, produced another chart which claims that Bitcoin will experience a bullish run up to $5,000 by the month of May.
https://www.chepicap.com/en/news/8016/-bitcoin-will-run-up-to-5-000-by-may-.htmlI don't know maybe he is a user in this community. $5k though is within reach short term as compare to those so called experts claiming that bitcoin will go higher than 5 digits this year.
I simply doubt that going off someone's opinion on twitter and believing it is good trading practice. Sure, you can take these into account when formulating your own analysis, but make sure that you don't just blindly believe whatever they say - often their own predictions will contradict with their future predictions (cough cough Tom Lee).
It's very possible though that bitcoin has already reached bottom and we're currently on the way up. I do expect short term to be more sideways movements more so than a definitive rally or dip, however.
A run up to $5k isn't out of the equation, assuming that the resistance at $4k is broken. That resistance however has demonstrated to be quite strong, and with the current still bearish sentiment (even though fear has decreased) within the market, I would say it isn't guaranteed that this will happen even by the end of the year. After all, we don't know for sure if prices have even bottomed yet. There could be every possibility BTC prices dip below $3k temporarily before the buying pressure takes up up again.