Bitcoin might be crashing to 20k in a month or two.
If we see 43.5k in a week or two... it's coming down to 20k in december.
It seems 20k might hold as support for a while as it's the bottom of this upsloping channel...
I can see a possibility where we drop to 20k and come back up to 70k again...
Where everyone will be SOOO bullish... again...
And it will look like a broadening wedge to me. Which... just might be the beginning of the end.
Just putting my thoughts out there on this one. I'll long 43.5k up to 60k if it happens and i'll short 60k down to 20k.
At the moment i'm only so-so that this crash happens. If 43.5k happens? I become extremely confident 60k follows and 20k follows that.
As to whether 20k hold as support... i'm so-so confident. It should rattle around down there for a few months if this crash happens like this. I won't long 20k until end of january. It should take a long time to reverse up.
At the moment... I think we are in a huge broadening wedge. Which is macro-bearish.
It seems 20k might hold as support for a while as it's the bottom of this upsloping channel...
I can see a possibility where we drop to 20k and come back up to 70k again...
Where everyone will be SOOO bullish... again...
And it will look like a broadening wedge to me. Which... just might be the beginning of the end.
Just putting my thoughts out there on this one. I'll long 43.5k up to 60k if it happens and i'll short 60k down to 20k.
At the moment i'm only so-so that this crash happens. If 43.5k happens? I become extremely confident 60k follows and 20k follows that.
As to whether 20k hold as support... i'm so-so confident. It should rattle around down there for a few months if this crash happens like this. I won't long 20k until end of january. It should take a long time to reverse up.
At the moment... I think we are in a huge broadening wedge. Which is macro-bearish.
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If this idea comes to fruition... expect the downside to 20k crash to begin around thanksgiving.
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If this IS going to crash... the crash starts at the weekly candle close in about 4 hours. Expect it to be a two wave crash down. First crash tonight and the 2nd crash in about a week or so.