People can draw lines on a chart to create "technical indicators" of whatever type of price movement they want. I could draw a chart that suggests it will tank and looks just as convincing as this one. There is no doubt whatsoever that we are in, or at least entering, a bubble. Bitcoin hype is so high that it is impossible for it to not be the case that investors will overbuy it. It is inevitable. Any asset with this much hype and frenzy buying must necessarily form a bubble. It's just investor psychology. While bitcoin is becoming more valuable, it is not increasing in value nearly as fast as its price is rising. $20k would indicate an even greater exponential growth than we are seeing, and therefore an even bigger crash WHEN it does crash.