If BTC breaks through $20,000 next stop $10,000.........

So when exactly is BTC supposed to hit 10k?

It's broken 20k numerous times already.

 

Every is waiting for 10-12k I think because its a high volume node, but I imagine the market will always screw the majority and force everyone to chase. On the flip side, I would hate for 10k to break, but even then, I imagine the amount of buying would be relentless.

I'm of the opinion that most of the selling was from forced liquidations of all these funds and exchanges. So its not such much people being scared away, but more so lots of supply hitting at once, and everyone waiting for what they think is a definite bottom before rushing back in.

 

1. BTC consolidated at about $40,000 for 1 month - then down to $30,000
2. BTC consolidated at about $30,000 for 1 month - then down to $20,000
   
3. BTC has been consolidating at $20,000 for about 3 weeks.
4. Give it one more week at $20,000 - then down to $10,000
5. My guess around July 15, 2022 is when BTC heads towards $10,000.

 

In other words... if we get another terrible CPI report (they come out monthly)... it will continue down as expected with everything else.

I got one question... why aren't you shorting it?

 

one correction

1. BTC consolidated at about $40,000 for 1 5 months - then down to $30,000

Also I notice BBands are tightest since, I believe, Dec '20 so move of some degree is likely to happen soon enough.

 

You mean no one made any money selling at a profit as the price tumbled? What a shame.

I'm not waiting for the bottom, I'm waiting for the trend to change, then I'll speculate.

 

shit! It still cannot break 20k decisively.

 

That is what they call support. Max, you KNOW this. The FACK is wrong with you?

 

I have next potential turn date of July 12th, +/- a day, for $SPX so since BTC seems to follow overall markets you might be right. $10k though have to see it to believe it.

 

• This is it.
  
• Below $20,000.
• See you at the next consolidation point of $10,000.