BTC LIGHTS OUT, SUB 30K
Updated
This idea leans a bit more on speculation, but it is something that's crossed my mind recently.
Given the IMF practicing for cyber-attacks specifically aimed at the global financial system, it gives worry of a covid like crash that'll break support at 30k.
Not to mention how close the current price action is now resembling the price action of back in March 2020. Take a look at the trend line on the chart image below:
It is the single most important trend line to hold in order to ensure that the bull run continues. The same goes for the PoC, sitting around 46k. If we break it along w/ the white trendline, it's a wrap. BBWP indicator has confirmed the end of consolidation moving into volatility... that I believe will head to sub 30k levels.
Key lines of support and resistance are identical to the previous idea linked below.
The likelihood of this entire idea playing out to be invalidated would be if we break above the prev high near 52K.
Rip Grichka Bogdanoff, may your phone calls ring beyond the grave.
Given the IMF practicing for cyber-attacks specifically aimed at the global financial system, it gives worry of a covid like crash that'll break support at 30k.
Not to mention how close the current price action is now resembling the price action of back in March 2020. Take a look at the trend line on the chart image below:
It is the single most important trend line to hold in order to ensure that the bull run continues. The same goes for the PoC, sitting around 46k. If we break it along w/ the white trendline, it's a wrap. BBWP indicator has confirmed the end of consolidation moving into volatility... that I believe will head to sub 30k levels.
Key lines of support and resistance are identical to the previous idea linked below.
The likelihood of this entire idea playing out to be invalidated would be if we break above the prev high near 52K.
Rip Grichka Bogdanoff, may your phone calls ring beyond the grave.
Note
If we continue to hold btc near 42k over the next 3-4 days, btc has a high probability of creating a reversal up to 47k to 60k. If we do reach those levels, it'll be 50/50 whether we past the ath or drop back down to sub 30k levels. I recommend keeping an eye on the SPX/CPI chart as it approaches 17.51. I strongly believe once it gets hit, the entire TradFi market will collapse, with a chance to take crypto down w/ it.Trade closed manually
Closed trade at 43k. I expect an uptrend soonNote
If we break through the red median line, we'll run the risk of the original idea coming to fruition. crypto twitter is now posting mart 2020 charts, so it'll be interesting to see if people front-run this. wouldn't be surprised if we stay around ~30k for a whileTrade active
entered short at 37k sl at 40k and tp at 30k, 28k, and 22kNote
BTC sitting on short term PoC. Short is inspired from dropping under 0.5 fib of wave 3 from 2 and, asks on heatmaps on certain exchanges near 40k back on the local high.Note
expect consolidation for a couple of days until a decisive move is made. bbwp(bollinger bands width percentile) indicator reads a confirmed end of the recent volatile move on a daily candleTrade closed: stop reached
sl hit at 40k. bbwp seems to have bottomed out. if we close over 39.6k on a daily today, will reenter long on the bottom of the 30k-40k range over the next 2 days if it comes. I believe btc closing this high will act as a signal for the SP500 to follow on Monday's opening with SPY hitting ~490 by eom or end of march.
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