Is a Bitcoin 20-25% collapse incoming??

Perhaps this time it’s different. I’ve studied price action for the month of June until August since 2016. A 25% collapse in price action to the 21-week moving average is most common, except for last year where we saw a 70% increase. An interesting comparison between previous collapses and the present is RSI was making lower highs combined with falling volume.

2016 Mid June til September -27% collapse

2017 Mid June til mid mid July -25% collapse

2018 beginning June til mid July -25% collapse

2019 June +70%

2020 June -20% ??

Comment:

Bitcoin needs to get back up and above $9300 before 10pm CET time, otherwise it is an express elevator to the ground floor.

Comment:

The 4-day chart which prints a new candle tonight is indicating the formation of a gravestone DOJI following the three previous bearish candles.

Comment:

Looks like the dip is playing out.

Although this is bearish I think just as with previous years the dip will be very short lived indeed. Perhaps only a matter of days.

The two month chart below prints a new candle in 5 days.. previous to that we had a huge dragonfly DOJI indicating a strong uptrend is in the post, no if's no buts. So if you're trying to short the market.. be warned the upside potential far out ways the current downside.

Comment:

Back to the same price action we were a month ago - at resistance. One we're through resistance and made support - woohoo - but until then...