BTC $10,900 Potential Scenario
Updated
Put together using Volume price targets and accumulation zones on the CME futures chart.
BTC was born out of the recessionary mark crash of 2008, but has never been tested in a recession before. This is a first for BTC and uncharted territory for crypto in general. Here is my potential scenario for BTC, with an accumulation BUY zone shown by the blue line for a dead cat bounce scenario. I will have to make up my mind closer to the time, but I am be buying BTC on that blue line when we approach for a potential bounce area before heading down to that $10,900 target. BE under no illusion, there is no way of really telling the bottom for BTC, it could possible smash right on through that 10k mark and down to the 5k area.
BTC was born out of the recessionary mark crash of 2008, but has never been tested in a recession before. This is a first for BTC and uncharted territory for crypto in general. Here is my potential scenario for BTC, with an accumulation BUY zone shown by the blue line for a dead cat bounce scenario. I will have to make up my mind closer to the time, but I am be buying BTC on that blue line when we approach for a potential bounce area before heading down to that $10,900 target. BE under no illusion, there is no way of really telling the bottom for BTC, it could possible smash right on through that 10k mark and down to the 5k area.
Note
Take not there is also a GAP on the CME futures that takes us up to 28k, now I was expecting a test of that area earlier, but with the heavy resistance on BTC it did not feel as though it had legs for such a push.A Sherlock retracement take on the LOG chart also confirms that a push up to that level before a drop could be possible, however I highly doubt we will see it.
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