BTC is stuck in this downward trend channel. The arrows indicate previous support trends. I personally think it will bounce around 5k. Its a big even with previous points of . If it follows the trend the whole way to the bottom of the channel, through all the resistance walls, we could see it go as low as 2.5K
I agree with Tom Hall on his long term fundamentals of BTC . I do think it will go higher than 20k, but it shouldn't be in the lead position.
Heres my next wild guess.
We have a MACD cross. Within this current trend when we see a MACD cross we have a significant drop of at least 30% within 10 days, sometimes faster. I am seeing BTC hitting the 5k mark within 10 days, that's 45%.
Lets see what happens!
The resistance has pushed BTC back again. If it falls below the trend line it will have to retreat to 9500 to gather more support. If it cant find it there, we are looking at it going the whole way to 7.5k
So, it dropped below the trend line. it started a downward trend and dropped hard to the support level of 9500. lets see if it can get above this new downward trend line.