$BTC update from initial 20k prediction post 19th April
Now that the chart has developed more since the initial 20k prediction on the 19th of April I have decided to re-analyse that same chart and look for any new potential clues/changes
We can see in the previous 2 crashes the price did 4 things on the weekly chart
1. Flash crash through the 20EMA (this occurs)
2. Strong initial support on the 50EMA before a breakdown (this is currently occurring)
3. False bottom on the 100EMA which will later become strong support preparing the market for the next move up
4. Flash crash below 200EMA to previous strong resistance completing a SR flip
If we assume all these four points will play out exactly the same we can assume our 20k prediction is now too conservative and our true potential bottom will fall around 14k-16k
Now that the chart has developed more since the initial 20k prediction on the 19th of April I have decided to re-analyse that same chart and look for any new potential clues/changes
We can see in the previous 2 crashes the price did 4 things on the weekly chart
1. Flash crash through the 20EMA (this occurs)
2. Strong initial support on the 50EMA before a breakdown (this is currently occurring)
3. False bottom on the 100EMA which will later become strong support preparing the market for the next move up
4. Flash crash below 200EMA to previous strong resistance completing a SR flip
If we assume all these four points will play out exactly the same we can assume our 20k prediction is now too conservative and our true potential bottom will fall around 14k-16k