$BTC to $15.8k?
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Over the last few days, I've switched my bias towards the downside. The trigger was 
BTC losing the 19.2k support yesterday which increases the likelihood of further downside.
As you can see from the chart, there's a H&S that formed on the 2 day chart. If it were to break the neckline, I think we could see a capitulation low happen quickly. The price action was enough for me to completely exit the crypto market and stocks. Not sure what the catalyst will be, if it'll be the PMI, or something else, but I think the risk is greater than the reward at this point of being long. So I'm going to sit in cash.
I have bids set at 15.8k should this play out. There may be some volatility over the next week or two that could send prices higher in the short term, but if it doesn't break 22.5k, this idea is still valid.
If 15.8k gets hit, then I revert back to my previous idea where I think that'll setup a run into the 30k range. I'd anticipate a move playing out sometime over the next 1-6 weeks.
Let's see.
BTC losing the 19.2k support yesterday which increases the likelihood of further downside.As you can see from the chart, there's a H&S that formed on the 2 day chart. If it were to break the neckline, I think we could see a capitulation low happen quickly. The price action was enough for me to completely exit the crypto market and stocks. Not sure what the catalyst will be, if it'll be the PMI, or something else, but I think the risk is greater than the reward at this point of being long. So I'm going to sit in cash.
I have bids set at 15.8k should this play out. There may be some volatility over the next week or two that could send prices higher in the short term, but if it doesn't break 22.5k, this idea is still valid.
If 15.8k gets hit, then I revert back to my previous idea where I think that'll setup a run into the 30k range. I'd anticipate a move playing out sometime over the next 1-6 weeks.
Let's see.
Yorum
Also, if 15.8k doesn't hold, the next target is 12.2k. Just another possible outcome.Yorum
I'm cautiously switching my bias long here. Tomorrow should be a good tell for direction. I've reentered many of my alt positions w/ small starter positions as well.Could be my famous last words, but with oil dropping in price, combined w/ the charts shaping up better than I was expecting, taking a stab at the long side before a big breakout or breakdown.
What I would look for is a breakout to
23K then a retest of 20k range, before any further upside. Invalidation would be a break of the 18.5k rangeYorum
Looking good so far. As of yesterday, I'm fully allocated back into crypto. Will share new charts if the trend continues. I do think that if we get a pulse, I think the move could take BTC to $23-25k before retracing. If you don't have a position, you'll want to buy that pullback if it holds the lows.
Alts are also starting to look good. My portfolio is skewed towards alts at the moment, will take profits on all 2xs and let the profits ride.
I do think this bounce (if it happens) should last for the next 2-4 months. Next year is when things should get ugly again.
Yorum
Updated idea to clarify my thoughts on what happens moving forward: 
Feragatname
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