CryptoTraderMark10

Bitcoin is on the verge of collapse

Kort
BITSTAMP:BTCUSD   Bitcoin
(NOT FINANCIAL ADVICE AND PLEASE DYOR) But... based on where the stock market is -- ie, hitting a major macro resistance area after a massive run-up/bubble artificially infused by government stimulus money that is now running out, and with all major higher time frames on TD sequential 9s and HUGE BEARISH DIVERGENCES on all major time frames -- I believe Bitcoin is on the verge of a 30 to 50% drop that would play out through the rest of the summer and take the price down to somewhere between mid 6ks and lower 7ks (blue box area). The question will then become if the blue box area can hold. If it can't, then things will get REALLY ugly and we're talking going back down to $3ks, but that's still far off and I personally think the blue box area will hold and will be the launching platform for the next bull run.

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