Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
::Pretend to be Tera Post::
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Price now has to follow the standard crash model, the current descending triangle will break down to support at 7.x (soft) or 5.x (stronger), plenty of bull traps along the way down to grinding on solid support (3k)
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Price now has to follow the standard crash model, the current descending triangle will break down to support at 7.x (soft) or 5.x (stronger), plenty of bull traps along the way down to grinding on solid support (3k)
I've been waiting for $8,500 forever. So it would only fit if Bitcoin suddenly matches this while I am no longer waiting....
I think your scenario's sound very plausible, but have a very low probability of happening. There is too much bullishness around. Price can linger on for a while (more than a year if necessary) but a deep decline is off my list of probable outcomes.