Arguments in favor: Two Bitcoin bubbles of similar scale and timeframe. Usualy followed by a 80%+ correction ending in bull capitulation. Expected support/resistance levels are in line with this scenario.
Arguments against: Price action made to fit, violates yearly logarithmic trendline, ignores contradictory evidence, blinded by the fact that my bids at 6k weren't filled, trying to justify a short.
Invalidation: 10k is recaptured
Confirmation: Breakout of the 4-5k accumulaton range anytime in 2021
Arguments against: Price action made to fit, violates yearly logarithmic trendline, ignores contradictory evidence, blinded by the fact that my bids at 6k weren't filled, trying to justify a short.
Invalidation: 10k is recaptured
Confirmation: Breakout of the 4-5k accumulaton range anytime in 2021
Yorum:
Target was hit, LOL! Not sure if this bottom holds though, since this is only the first dump and we are now ranging around 6k. Looking for a final move down, which may or may not take out the low. Good news is, we are now ahead of schedule, so a bullish breakout in 2020 is possible.