Narrative is to hit the 200WMA under 6k to commit capitulation in all the halving speculators and miners, then resume swiftly the uptrend, letting them in the dust and making them buying higher. Please consider all variables, this is highly speculative, but with so many eyes on the same event, it't becoming harder to imagine that everyone gets an opportunity to buy before halving and sell higher for a profit immediatly
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The opposite of this capitulation scenario is if we're assuming the capitulation has occured this week, and we see a bullish wedge breaking out now
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How would this make you feel: Consolidate Dec 2020 under 20k, Fail to close Monthly above 20k -> Dump to 13.5-14k -> resume moon mission from a proper launchpad
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This is just great
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Running nicely
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HTF idea also here:
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if fractals repeats, we see a touch of the 7SMA 1M in February ~22k while also breaking out of 42K into the month end , kinda crazy, but it happened before
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Two ideas on the Monthly, which one do you prefer?
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2017 moon like scenario or Double-Bubble Tim Draper scenario?
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Either way, I don't think we'll go below 20k again. Maybe if another End of the world scenario kicks in, but highly unlikely to close below, especially as time goes on All major banksters will be bidding that area. What would cause such a drop? Maybe Tether FUD, regulation, profit taking a la Bubble burst with 8k charts popping again etc
@Johnsdad, Maybe draw down to weekly MA20 and then resume to parabolic advance?
userfan
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@Johnsdad, yes, may be
Mclobster
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This is so crazy! If this continues being correct for a few months more you will be a legend
userfan
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@Johnsdad, haha, we'll see, hopefully we all make it alive and much much richer :D
Mclobster
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@userfan, I think we should just stick to your prediction from Nov 2019. It's fantastic and there is no reason to update with new predictions. Yes it seems unlikely to reach 200k+ by the Summer but it's not impossible. Bitcoin has done these kind of moves before and just look at the markets atm. The liquidity injections from central banks is making stuff crazy. I'm sticking to your prediction
BitcoinBustdown
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What fractal did you use for the uptrend? This is extremely spot on. If you made another chart with this fractal and less noise and indicators that would be amazing!
userfan
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@BitcoinBustdown, yeah it's insane, I have used the 2017 cycle fibs and basically adapted the "ghost" candles of that cycle to the new values here...unfortunately I don't have the template anymore
BitcoinBustdown
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@userfan, Hmm ok maybe I can try and make an adaptation of that. This is great