Is a 70% crash to 20k for Bitcoin going to print ??This is a 3 week chart. Each candle print takes 3 weeks. This is not a forecast for tomorrow or the day after. This is months in the making.
On this timeframe months pass until targets are realised. Regardless, there are some important signals now printing that require attention.
When:
1) Stochastic RSI was above 80 AND then crosses down 50 (red arrows)
AND
2) RSI 50 level confirms resistance once a breakout has printed (black circles) as it is now, you must watch for a confirmation of resistance.
A and B had confirmed resistance in 2018 and 2019. 80% and 70% corrections followed. Point C in early 2021 was a false breakout only confirming in late 2021. A 75% correction followed.
Look left. This chart is now either repeating years 2018 / 2019 or 2021.
There are some important takeaways from all of this.
1) Whether it is a repeat of 2018 or 2019 or 2021, the bull run is over inside the next 6 months. There are far too many calls for higher highs into 2025 and beyond. That is not going to happen.
2) This is not a forecast for something that is going to happen right away.
3) The market top is not in yet. True. Market tops arrive with Euphoria not fear.
4) When this RSI resistance confirms, there will be no long opportunities in the market until 2027 at the earliest.
Ww
