Blowoff top for sure friend. That’s just the way these things play out. Institutional types won’t be selling at all. They’ll sell their shares to regular folks and get paid from collecting management fees while holding Bitcoin. I say $135,000+ in December is still a realistic target.
I think the fact that everyone is expecting a blowoff top is precisely why it won't happen. Everyone seems to have the idea that the cycle HAS to end with a blowoff top because the last 3 times, it did.
If you were a hedge fund and your goal was to maximise risk-adjusted profitability, what would you do, knowing this that everyone is expecting a blowoff top at say $130k+ ? Would you sell when everyone else is selling? Or would you make sure you've left enough space to dump all your bags on the normies. Keep in mind hedge funds, unlike normies, can't go in and out of positions as fast as us normies, because they have large sums of money. They would need to start off loading early. Which will lead to rounded top, as normies buy them guys but quickly gas out.