BTC Cycle Bottom?
BTC has historically dropped 82% from cycle highs to cycle lows. This cycle was a bit different in that we had a double top sort of pattern, instead of the typical blow-off top. We did not reach the top of the historic parabolic channel, which would of put us at roughly 100k. An 82% drop from 100k would bring us down to around 18k. What if we break 20k and bottom around 18k, perhaps a bit lower? I think the bears would then be calling for 12k. BearTrapSet?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.