A long winter ahead? We've seen it before... BTC $28k or lower.

The last two major parabolic moves by both BNB and BTC finished with a big o'l ABC, and a long a** Bear market.
We're seeing the exact same thing playing out right now.

With 5 down 3 up since the Apr/May '21 dump, it's probable (in my eyes) the we're headed for another 5 down... maybe as low as 28k... maybe lower?

Just take a look at the last two events. Both times the price eventually retraced to the PREVIOUS formation 's low point, or there about. That would mean that
this time around could take us as low as $7700, which is approximately at the 161.8% extension of the current AB.

I'm not sure that $7k is a reality at this stage, but $28k is plausible.

This is all assuming the current move stays below the 100% extension of the Jul/Aug/Sep movement, of course.
In other words, the AB of the B needs to stay below $63,715, or i'm toast!

This is my first year of trading, and my first tradingview post, so we'll see how it goes!

Maybe I shouldn't quit my day job just yet huh?

;)


BNB last 2 times;

BNB now;

BTC last 2 times;

BTC now;