Short

Updated

Bitcoin -- I guarantee bitcoin goes below 5700

This is the first time I guarantee something. That means 100% confidence. You can't mess around with 100%.

I guarantee bitcoin goes below 5700.

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Ladies and gentleman, I am going to be real. I have just never seen a situation where an asset somehow doesn't break a certain level after visiting it this many times. It's a given to me. We are also creating lower lows and lower highs for the first time in a long time.

It may not play it out as drawn, but a 5700 break will happen. It's very easy to happen. How many more pump and dumps is it going to take for people to wake up and see what is going on? There's a limit to the amount of times retail gets burned, then they will eventually give up.

I have not been this confident in any of my posts. I think BTC will see new lows and it will finally trade in a channel that will give it the opportunity for sideways price action. Until then, be careful!

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As for my updated chart, look at the levels of resistance we have to break for BTC to move up. Sure, you can play contrarian here, but why? We are below 50/100 SMA below multiple resistance / sell off levels. We are also creating a H&S pattern which would indicate around a 2-2.5k drop. The chart itself is very ugly.

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Money is moving from alts to support BTC, soon enough USD will flow out of BTC, and that's where the drop will occur.

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A close up, we can still get to 6900 and then reverse. This is where the 50 SMA is.

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Weekend will be interesting. It is usually when people buy in. This will be interesting.

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I think we could see a big drop in the next few days.

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Too many indications of resistance. If 7,000 breaks, things will look better.

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My bet is against a 7000 break though.

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Hang on tight. Trading bots trying to make things look good by breaking the 50/100 SMAs... That is my opinion.

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H&S pattern is not there anymore, but the 5700 drop will come soon enough.

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Getting a bit confused here but still haven’t lost confidence. I thought BTC would get dumped very badly but it did not happen. Still in it with my prediction, might need more time.

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Head and shoulders pattern reforming...:

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I believe I held true to my word. Good luck all!

UnknownUnicorn1000353

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