Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
cAPSLOCK
on 27/01/2022, 13:43:01 UTC
Okay so, I made this chart where my target was almost 19k however that was the case if BTC drops on that weekly candle itself.

Found something really interesting. Everytime BTC goes below 1 Week 50 MA, it retested 1 Week 200 MA.
Not saying it has to do this again but something to look at.  Wink



If we take time into consideration for the price to meet the Weekly 200 MA, it will be near about $24k.
This changes the price drop from current price from 46% to 30%.



Thanks for reading! Cheesy

I have been doing various things with coffee stirrers and crayons, and ~25k also looks like a good target for the drop from the giant head and shoulders considering it top portion.

So I think this theory has some pretty good possibility of happening.  Unfortunately that would also paint us a lower low... which seems kind of bad.  But at the same time in the current macro environment I could see us springing up from 25k pretty handily.

Of course I would still rather see a higher low and a third peak...  But, who knows?