I know your not going to like this forecast but it has to happen for bitcoin to have a healthy market
We can expect Bitcoin to test the lows of 2018 and 2019, between the $4,000 and $3,000 levels
this scenario will be healthy for bitcoin moving forward.
If Bitcoin touches these lows, BUY! because they will never happen again.
The S&P has been over brought for a long, long time. The cornavirus is a real thing, but anyone with half a brian can see that the Market Makers are taking
advantage of the sitaution by correcting the markets.
This assualt on the markets was strategic.
With that being said, expect the S&P to pull back to the 2300 levels and at worst 2100 levels and then...
Double top forming on the monthly chart.
We have two possible out comes:
1. Bitcoin falls down to $7,500 and bounces off support straight to $11,000
2. Bitcoin breaks support to $5,500 to create a new support level; bounces there straight to $14,000 after the halving.
Both are possible 11k after the halving seems more reasonable.
Post your thoughts.
Bitcoin, will go back up to test the previous days high. It will follow the pitchfork up until that point. If bitcoin closes below 50 Ma and the 200 Ma, bitcoin will be in danger of falling to previous lows between 10500 and 10200.
but for now i'm green.