BTC 26k blow-off top in December?

Updated

From time to time, Bitcoin begins moving in distinct arcs. We're moving along an arc matching the one that brought about the 20k blow-off top. If this arc plays out, we'll see a blow-off top in the neighborhood of 26,000 to 27,000 USD. It isn't likely and it wouldn't be natural, but it isn't impossible. The fundamentals allow more than enough room for Bitcoin to be manipulated into this position. There's plenty of incentive from true believers, traders and haters alike to pump and dump BTC. There's plenty of room for BTC to correct down to 12,400 while preserving this arc. If we drop to 11.5k, the arc is invalidated and BTC will put enough gas in the tank to reach 20k in Q1 of 2021 in a healthy way. This is not financial advice and I am not a financial advisor: if we break 20k before January, I will begin to sell. I do hope for a healthier path to the moon.

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This possibility is beginning to register with other analysts. I no longer yearn for a healthy path to the moon. I want the toxic one that doubles my cash and then nearly doubles my BTC following a brutal 45% correction.

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Now we have to drop under 13.1k to invalidate this possibility. I'm slowly becoming a believer.

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We've broken ATH on many but not all exchanges. The invalidation point is creeping up. 13.7k now, 14k soon.

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The invalidation point is 14.5k. There are plenty of people saying we're going to anywhere between 10k and 16k. It's too iffy to make a solid call in my opinion. Bitcoin can do whatever it wants right now.

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Invalidation creeping up to 15.5k.

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26.7k is almost a foregone conclusion at this point. Plenty of people are calling for 26k this week and more like a 30k BTC soon. The invalidation point is 16k and we're probably never going to that price again. There will be no 45% correction as I'd originally thought we'd see follow this move. Maybe a 20% correction, but possibly not even that steep. This is an interesting bull run.

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The Ripple lawsuit temporarily stunted Bitcoin's progress, but has ultimately left BTC open to pumping to absurd levels in the short run. As it stands, one more 7% move puts us at the 26.7k target.

Trade closed: target reached

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ChronicMasturTrader

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