I have been in the Crypto Space for about 4 years and I have been studying Bitcoin since 2017 High. I've learned something along the way. During 2017 high, there were many people that talked about Bitcoin. It was all over social media. Many people were talking about it, even people that did not know anything about Bitcoin. As a surprise, that was the top and bitcoin dropped all the way down to 3k. When Bitcoin dropped that low, many people that invested, especially, in the top took the loss and did not want to invest on Bitcoin again. After years, Bitcoin finally pump and went as high as 60,000 dollars. Then something happened, social media started talking about it. People that was not in Crypto in 2017 started talking about it. People that know nothing about Crypto and bitcoin started talking about it. This was a signal that it was the top. So...
Will Bitcoin do the same thing as it did in 2017? If so, Here is the chart on how it will look like. People that bought above 50k to 60k will get trapped. Bitcoin will dump all the way down below 20k. I say below 20k is because it is a major key area that tracks back to 2017 high. There will be a lot of liquidity around that area. It will consolidate for weeks and finally, eventually, a new bull market will start. This will take Bitcoin to 100k and more. The question is "How long and when?"
Will Bitcoin do the same thing as it did in 2017? If so, Here is the chart on how it will look like. People that bought above 50k to 60k will get trapped. Bitcoin will dump all the way down below 20k. I say below 20k is because it is a major key area that tracks back to 2017 high. There will be a lot of liquidity around that area. It will consolidate for weeks and finally, eventually, a new bull market will start. This will take Bitcoin to 100k and more. The question is "How long and when?"