Yikes.. this is a revised version of my previous prediction where our current point in a strong correction is adjusted to match up higher in the previous fractal aka it will dump harder and faster. In the comments on the previous prediction I wrote some alternatives. And the daily 200MA is looking "not weak" per say, but Definitely "Not Strong".. and "Not Strong" equals continuation of the previous dump in an important area like this. Bear flags keep breaking below and retesting from underneath from smaller candles creating one bigger bear flag.. which it's riding pitifully along the bottom of waiting for somebody, anybody to inject money and buy.
Good chance it fails within the next 24-72 hours. In which it does; it's a almost a straight shot with minimal bounces to $5K's in a span of a week or two. Failing the daily 200MA is rare in it's history and pretty much a Huge Bear signal that can justify such a dramatic and swift sell off.
As of now; if this scenario were to unfold.. it's like followed by some low volatility and sideways consolidations and movements leading into an upward bull'ish trend. This upward trend is likely traders and investors front-loading or trying to price in the upcoming 2020 Halving.
Something in my gut says to be weary of this upcoming Halving. That it won't perform like the previous 2 cause it has too much hype and attention from greed; it might actually do the opposite as it's historical performed a ~year after. A situation of too many people "buying the rumor (front loading pricing in the halving), selling the news (halving happens, dump)". From there; it just depends on whether or not we are in a recession and how Bitcoin performs during those times... to determine if Bitcoin is in for a huge parabolic rally - or - a total dude of 5-6 year disappearance.
Good chance it fails within the next 24-72 hours. In which it does; it's a almost a straight shot with minimal bounces to $5K's in a span of a week or two. Failing the daily 200MA is rare in it's history and pretty much a Huge Bear signal that can justify such a dramatic and swift sell off.
As of now; if this scenario were to unfold.. it's like followed by some low volatility and sideways consolidations and movements leading into an upward bull'ish trend. This upward trend is likely traders and investors front-loading or trying to price in the upcoming 2020 Halving.
Something in my gut says to be weary of this upcoming Halving. That it won't perform like the previous 2 cause it has too much hype and attention from greed; it might actually do the opposite as it's historical performed a ~year after. A situation of too many people "buying the rumor (front loading pricing in the halving), selling the news (halving happens, dump)". From there; it just depends on whether or not we are in a recession and how Bitcoin performs during those times... to determine if Bitcoin is in for a huge parabolic rally - or - a total dude of 5-6 year disappearance.