BITCOIN: 135K BY 12/2021 UPDATE
Not guys, i'm not crazy, i just want to share something that i never shared here to explain why i'm not scared about another major crash.
What to consider for a crash:
> a blow-off after reaching a peak
> -80 / 90% downtrend
Yes, i keep it very simple, but now we have to consider a big event never occurred in this market: Covid crash.
Imo this changed all perspectives and lowered the maximum, but if the covid hadn't been there maybe we could have had this:
> top at 130 / 140K
> crash until 30k (-80%, where we have been)
Following this crazy thoughts, maybe we could assume bottom is in or, in a strange time, we could bottom another time like in 2015 (double bottom).
This is why i think we can't go lower than 30k (or something around this), but my thoughts are just thoughs.
Let me know if you agree with my view, if not ... let me know anyway with your arguments.
What to consider for a crash:
> a blow-off after reaching a peak
> -80 / 90% downtrend
Yes, i keep it very simple, but now we have to consider a big event never occurred in this market: Covid crash.
Imo this changed all perspectives and lowered the maximum, but if the covid hadn't been there maybe we could have had this:
> top at 130 / 140K
> crash until 30k (-80%, where we have been)
Following this crazy thoughts, maybe we could assume bottom is in or, in a strange time, we could bottom another time like in 2015 (double bottom).
This is why i think we can't go lower than 30k (or something around this), but my thoughts are just thoughs.
Let me know if you agree with my view, if not ... let me know anyway with your arguments.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.