As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September.
Significant drop to what price? The significant drop known has been when bitcoin dropped from $48500 to $17600. Can their be a drop from $20000 to prices that re significantly lower? The strength at $20000 is strong and I am not thinking bitcoin would drop much below $20000.
OP was very focused on this drop, he may have been expecting it exactly in the night between August and September and.. it didn't happen as he expected.
However, I see two conflicting directions here:
1. The historical crypto winter may not be over (may take 1-3 more months) and this means a new leg down is possible (and the worse case scenario is under 10k!).
2. The rainbow chart shows the price is in the low area and it's not much (if any) room for going lower.
Some will go by some indicators, some will go by another, hence some will always be wrong. I find it a good time to buy, HODL and wait for the "winter" to get to an end.