14/6 BTCUSDT - VERY LONG TERM
with history analysis on 2018 halving event.
We can see BTC hard dump -70% from 20k to 6k. and then a dead cat bounce and go to recent ATL at 3222 which is ~80%
Now we go back to previous data. looking at the weekly bear flag model, the stop should be located at ~13k which is 80% off at ATH 69k(Red Price Range). with considering day chart, it also shows that the 48k bear flag model is going to 13k also (White Price Range).
With considering support as I mentioned yesterday. 19-20k would be a reasonable support of miner cost and also the liquidation price of crypto firms like Celsius on MAKERDAO.
so I am pretty sure that the recent support would be at 19k-20k. but the final stop may be target at 12.5k-13k as a greater support.
This is a very long term price estimation. It doesnt mean that BTC will 100% drop to 13k and go to moon or something.
We can see BTC hard dump -70% from 20k to 6k. and then a dead cat bounce and go to recent ATL at 3222 which is ~80%
Now we go back to previous data. looking at the weekly bear flag model, the stop should be located at ~13k which is 80% off at ATH 69k(Red Price Range). with considering day chart, it also shows that the 48k bear flag model is going to 13k also (White Price Range).
With considering support as I mentioned yesterday. 19-20k would be a reasonable support of miner cost and also the liquidation price of crypto firms like Celsius on MAKERDAO.
so I am pretty sure that the recent support would be at 19k-20k. but the final stop may be target at 12.5k-13k as a greater support.
This is a very long term price estimation. It doesnt mean that BTC will 100% drop to 13k and go to moon or something.
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Disclaimer
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.