If we analyse the peaks and retracement in the past, we see that everytime BTC spikes it eventually retrace 100% back down.
First major spike in 2017, then in 2018 it went back to its previous value
Second spike in 2019, then in 2020 it went back to its previous value. 100% ish retracement
Then in Oct 2020, it got very bullish then went all the way to 60000 of course it retraced 50% - 60% before going to 60000. So now it is bearish, we should expect it to go back to 100% retracement i.e. price before Oct 2020. BTC down to 11000 $$$
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Remember
AS LONG AS 28000 - 29000 holds then we are in the LONG.
luna went to zero because it depended on ust and something screwed ust up on shorts.
PositronXY
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worked out as predicted
Marc_408
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Buy orders @ 10,500 ! Patience
kievanrusbazaar
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Not sure why you think it should go below 20,000. Would you be willing to explain please?
TheProfitableTrade
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@kievanrusbazaar, It would be tough to go below 20 because money managers are buying value over time, but every time someone says it can't. It does. Every time. Very low value possible under heavy regulation, introduction of CBDCs and outlawing private crypto jointly by G20 nations. But man still on technicals, lower than 20 is possible.
ABMNATN
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@TheProfitableTrade, People doubted in 2018 it would lose 6K. Lost 6k and they all got rekt.
kievanrusbazaar
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@ABMNATN, yes and some also expected it to go further down to $1000. My point is that a lot of people are calling for 20k or 10k and I get that TA says otherwise or patterns from previous cycles but I can't see this cycle as similar for example, didn't have the typical blow off top.
kievanrusbazaar
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@TheProfitableTrade, yes for sure it can still go down. With respect to the severity of event like COVID lockdown, rate hikes, war, affecting macroeconomics it's been almost worst case scenario. Of course worse events to come are possible. I'm not sure about the technicals, there's been certainly some differences this cycle and some weird price action so whether we go down to 20k or 40k, can't say will be too surprised lol. Thanks for the explanation!