as i said yesterday after breaking down that giant pennant on 4h chart the crash was coming but are the bulls dead? or just tired. if we look at bitcoin history a crash of about 40% happened fairly regularly in the past bull market and every time we made such a big correction btc raised over 150% after the crash which I cant put the chart here because I'm not a pro member (such a bull*hit) but you can check it out for yourself and its really cool to find this patterns
so where that put us right now?! i think we might still have some room to go down and test the 20ma on the weekly chart at somewhere in about 42k which is the last top we made after the breakout from 2017 ATH and if you measure from the current all time hight 40% down that puts us on exactly around 38k and if we go up 150% from there we look at something about 100k. and I personally think this absolutely can happen the most possible scenario here is testing 42k which is not exactly 40% but is a powerful level and we can reverse from there. this can be on of the best buy the dip situation of this bull market. so watch out for the next few days.
so where that put us right now?! i think we might still have some room to go down and test the 20ma on the weekly chart at somewhere in about 42k which is the last top we made after the breakout from 2017 ATH and if you measure from the current all time hight 40% down that puts us on exactly around 38k and if we go up 150% from there we look at something about 100k. and I personally think this absolutely can happen the most possible scenario here is testing 42k which is not exactly 40% but is a powerful level and we can reverse from there. this can be on of the best buy the dip situation of this bull market. so watch out for the next few days.