As I already mentioned in my previous forecasts, my method is:
1. extract data from the web that tell what is the general trend and how strong is this trend.
2. fit this trend into the chart with a little bit of TA and analysis.
3. use the tool to find the levels we will reach.
Have a look at my two previous forecasts (link below):
March-April, I called the bull trap to come.
May-June, I called the strong downtrend after the bull trap.
Now, I call the beginning of the crash.
I make 1-1 tutorials to explain my method, and give my fundamental indicators.
Contact me on Skype: fx.hardy or Discord: purplefx
The most important point is to think outside of the box, meaning, outside of the chart, using fundamental data and .
Several "Top Traders" on Tview post s*** forecasts because they almost only use TA.
They have no clue where the price is going, so they don't take any risk and they show you "all the possibilities", what a joke :---))
Let's hope that it plays out as expected!
On the technical point of view, it does look like we could be bottoming and starting a new bull run like the one of April. And that's why many people have hope and there is some support.
But the fundamentals are simply not here. The obvious ones being:
- There is too much pressure on this ecosystem at the moment.
- The volume on the blockchain AND the volume on the exchanges continues to go down. We are in a clean bear market.
And you know what, maybe the best argument for a crash to come soon, is all these people waiting for a new bull run, great time to create panic sell.
So, if we see 7-8K again, it's no big deal, just greater opportunity to short.
The way I see it, is that it will form some sort of double top between 9k and 10k.
Then around the 10th, the SEC will likely delay their verdict, or just say NO, people will be disappointed, and a rather strong leg down will start like in May.
To conclude, the rally that we are seeing is indeed powerful so far, and I obviously did not expect it, however, we will likely see at least one strong leg down in this bear market.
(except if the SEC says straight "YES" on the 10th, which would be very surprising from them)
Take care everyone, and be careful of fomo.
I guess we'll have some consolidation before breaking the current level support that is still present at 6,100$ and 6,000$.
No 4,000$ before days I am sure, before weeks I am quite confident.