Although i am super bearish in the short term, I do see BTC heading for the moon in the longer term. A great many of us share this viewpoint. My previous ideas have hinted that we are in for a drastic move downwards, but as an alternative to where we bottom at $ 3500, I would like to tackle the analysis from a bullish vantage point which does seem to have merit.
If you've followed my previous ideas, BTC has recently completed an EW Symmetrical Triangle, which bounced BTC from $8800 - $9250. It can also be gleaned from the daily that BTC is forming a large EW Symmetrical Triangle. Similarly, BTC bounced with a "BIG W" formation from $ 6500, which would mean that it's target would be reached around the $ 9500 mark. Should the EW Symmetrical Triangle continue to form with the anticipated price move downwards, another "BIG W" would result. It seems that fractal repetition in the near term is hinting at future chart geography.
Remember that TA constantly evolves and can only serve to provide us with probable outcomes. No one can predict the future. No one has an operational crystal ball which can foretell the future with great accuracy.
Happy Trading !
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Here is my idea for the descent to $3500. An opposing bearish viewpoint. Let's see which one plays out !