I published an idea on BTC capitulation (see link below) ten days ago. This post is a new update on when BTC would go to this level.
As you can see, BTC is losing the "210K line", a very meaningful trendline that I'll explain this in my future post. My prediction says that BTC would go down around the 200W MA Line and the dashed trendline next to this 200W MA, so around $21600-$22800. Depending on the selling intensity, we may have a wick lower than $21000 but must be above the EL line (around $17000).
I expect a quick reversal of BTC after reaching this capitulation level to see again the "210K Line", so around $33000.
As you can see, BTC is losing the "210K line", a very meaningful trendline that I'll explain this in my future post. My prediction says that BTC would go down around the 200W MA Line and the dashed trendline next to this 200W MA, so around $21600-$22800. Depending on the selling intensity, we may have a wick lower than $21000 but must be above the EL line (around $17000).
I expect a quick reversal of BTC after reaching this capitulation level to see again the "210K Line", so around $33000.
Comment:
It's coming, with good timing, finally.
When touch $20000 area, I think that BTC would struggle to go up (to $30000 area).The recovery would take time and would not be a V-shaped one.
When touch $20000 area, I think that BTC would struggle to go up (to $30000 area).The recovery would take time and would not be a V-shaped one.
Comment:
BTC was low at $20130 yesterday. Now it's struggling to hold the MA 200W Line and the dashed trendline nearby.
Next move of BTC will be more clear (or not) at weekly closing. Trading at this moment is quite sensible (BTC is chopping in the range $20000-$23000)
Next move of BTC will be more clear (or not) at weekly closing. Trading at this moment is quite sensible (BTC is chopping in the range $20000-$23000)
It seems that it is rejected by the strong resistance, the "210K Line"