BTC: It will go sideways until next dropSo I was wrong, I overestimated BTC. I knew one thing certainly: That the weekly Stoch RSI would have to go into overbought zone again, because it hasn't been there
since a far too long time.
And that is indeed happening exactly as I thought.
However, the way it is happening, is different: Not through a strong bounce, nay, but by going painfully sideways, with a very slight tendency upwards, so that we still
go to overbought territory. This is of course genius, because by that, BTC can start the final drop from much lower, 4000 instead of 5000. Therefore, the bottom will
be consequently also 1000 USD lower than I thought.
In my previous analysis I identifited the MA300 as solid support, at around 2400 USD. However, I think it will be penetrated downwards for a short while, could go as low
as 1600-1800 USD. But it will strongly bounce above MA300 and the weekly close will be above MA300, so that it indeed will furtheron act as strong support.
It might do a double bottom like structure with a second drop a few months later, similar to the bottom accumulation zone in 2015.
I am still watching daily transactions, we are still below ATH, so I don't see any reversal yet. Halving date is now end of May 2020, so still plenty of time till there.
And still many people post charts about this being the bottom, therefore I am pretty sure that it won't be the bottom, hehe.
