Here's a scenario where Bitcoin forms a bearish head/shoulders pattern within its parallel downtrend, before breaking out of it to reach 40k.
One option has it stopping around the expanded flat's 1.618 one last time @ ~18.3k.
Option 2 gives us a new low beforehand around ~11.7-12.5k.
For either of these scenarios to play out, Bitcoin would first need to lose 25.2k and then ~19.5k.
This is an idea based within another previously published chart linked below:
One option has it stopping around the expanded flat's 1.618 one last time @ ~18.3k.
Option 2 gives us a new low beforehand around ~11.7-12.5k.
For either of these scenarios to play out, Bitcoin would first need to lose 25.2k and then ~19.5k.
This is an idea based within another previously published chart linked below:
