Description
⋅ YOU CANT KILL BITCOIN
3/18: $7500 on the weekly chart. i don't see us falling much lower although we might get wicked down there.
Then a nice increase on the weekly up to 11.7k, even breaking the strong downtrend line develops from December.
At this point, we'll see true capitulation-- as we see bitcoin "die" down to 4k, even wick down to $2600 area.
"Be fearful when others are greedy, and greedy when others are fearful".
Not certain where the next euphoria will stop, but I'm guessing somewhere close to 35-40k.
Best case scenario:
We go ahead and hit capitulation at 4k now (instead of pumping to 11.7k) and get this over with.
Either way, 4k has got to happen--in fact it's necessary for the next rocket ship ride to Euphorialand.