Looking at a chart patterns site, it was intuitive to visualize how well the broadening bottom pattern would fit the BTC flip hypothesis. It would form a symmetrical ending on December 24, repainting previous big moves in crypto. The points are not random. They fall on the Friday of each week. Why Friday? Because that's payday, when the weekend starts. Friday is the day stock options expire worthless for 90% of retail traders. It's a day when institutions have taken that money and moved markets many times before.
It seemed necessary to predict prices going low enough to take out stops, and then bouncing up for a bull trap before committing to larger down moves. Expect the unexpected in the short term. And then zoom out to see how it all fits.
Institutions and CFDs seem to enjoy painting obvious daily patterns like these on charts for their trading educators to stand on. They entice undisciplined speculators to open margin accounts for 100x wreckage on small moves. The tops and bottoms coincide with levels extrapolated from previous price action and are not set in stone. But it would be interesting to see how many are hit.
And there is still plenty of room for doombear barts in the holiday aftermath with their jaunty 1-2K predictions.