BTC to $20k and possibly $16.4k
A bear flag was forming last few days and has broken out to the downside.
These days around CPI data i expect a drop to the CME gap at 20k-20.4k
If that happens it could be forming a head and shoulders pattern with a potential bounce to current levels before breaking down with a technical target of 16.4k which was a big support in Q4 2022.
(in between could be a pause at the 0.786 fib level and also great support of 18k)
So if you are looking for long positions: DCA in at 20k, 18k and 16.4k -> this is my plan also.
(Don't DCA all-in though, recession might cause lower lows than Q4 2022. Keep some cash on the side to buy a new bottom)
These days around CPI data i expect a drop to the CME gap at 20k-20.4k
If that happens it could be forming a head and shoulders pattern with a potential bounce to current levels before breaking down with a technical target of 16.4k which was a big support in Q4 2022.
(in between could be a pause at the 0.786 fib level and also great support of 18k)
So if you are looking for long positions: DCA in at 20k, 18k and 16.4k -> this is my plan also.
(Don't DCA all-in though, recession might cause lower lows than Q4 2022. Keep some cash on the side to buy a new bottom)
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