The worst case scenario for Ethereum!I'm gonna make it real simple. Inverted head and shoulders is the pattern in lower time frame, therefore the price can start going up from here, breaks 4k and there will be the ult season an all that and the price can go up to 5.5K.
But
If Ethereum loses the 3K support and fails to hold 2.8K we are doomed BUT you will get the chance to buy ethereum at 1K again but then imo the price will bounce back tries to break the 4K resistance and if it does then even 6-7K will be possible.
if the worst case scenario happens alt coins won't drop that hard but many of them can form a double bottom pattern. So you might want to wait before buying and you might want to get yo $$$ ready to buy the dip.
Worstcasescenario
BTCUSD WORST OF THE WORST CASE2-3 Months from now
1.) If BTCUSD doing Irregular flat, the last price target is around 9,080$
2.) If BTCUSD doing C of Truncated Zigzag, Price should go at least 5,321$ or lower (From the theory, The price must not be lower than the lowest price which is 2.22$)
3.) If BTCUSD doesn't make a new low and the price goes sideways, It may make last wave C and then go down
4.) If BTCUSD doesn't make a new low and the price was reversed or changed trend, It may be making wave B or New Bull Run.
These 4 things can happen or never happen, My wave analysis still needs practice, and I'm Never afraid of the mistake.
BITSTAMP:BTCUSD
COVID Panic Part 2: An Unlikely Series of EventsLet's start off by saying this:
I do not have a bullish or bearish bias. I think this outcome is actually extremely unlikely. It all depends on how markets process the COVID news over the next 48 hours.
Here are the facts:
Every single record
(Hospitalizations, rate of deaths, rate of infections, active infected cases)
in regards to covid, has been broken in the past 12 hours.
News cycles are already starting to spin cycles of doom and dread/panic. This is the worst-case scenario I think we could see if markets react similarly to the first time we had covid panic back in March. Bare in mind: worst case.
It is very likely we come to the light-support zone and rally from there, this would also be some healthy price action for a break through 20K and onwards.
I absolutely love bitcoin; but, at the end of the day, if things are getting worrisome, the average consumer will likely choose 10K in cash vs 10K in Bitcoin.