BTC to DROP 75%!
Hi guys,
In this analysis I deep dive into the price action of AMZN and BTC.
This is just my idea and should not be used for trading purposes, as crypto is highly volatile you could lose most if not all your capital this is NOT financial advice if you need fanatical aid seek a licenced professional.
I use the 10 ema, 50 ma and trend based fib extension to plot future levels to work with. I also used the drawing tools and bars pattern tool along with the date ranges to show me the time zones in which price played out in this analysis.
Like the dotcom bubble in the 2000's I see similar things playing out with AMZN to BTC charts.
With BTC falling down to its 2017/18 high just like AMZN did in the '2000 we see similar price action playing out indicating to me we are about to see a 75% drop on the BTC price.
AMZN toped out around the 0.5% - 0.618% levels just like BTC it has also followed in the same way toping out at the 0.5% - 0.618 levels with price holding under the 10 ema as my momentum indicator we see selling continue and price falling as a consequence.
It is amazing to see price play out so similarly which is why I see a potential 75% drop coming in the near future. With price holding above the 2017/18 highs I see price running into the future 10 ema wall and potentially starting the decent in price for BTC down to 4'400 the -50% level bottoming around mid to late '2023. Now on the AMZN chart price fell to the -0.382 level before starting its bull run so keep this in mind but for percentage levels I see BTC fall to the lower -0.5% level.
I also copied the RIS form the AMZN chart and drew it in as best I could of course the future predictions are not guaranteed but are good visual potential plays if the price of BTC follows suet.
The dotted line is the top of the BTC highs from 2017/18 showing us that the current price is forming a base. Just like AMZN did price held under the -0.075 level and formed a base before falling a further 75% in price bottoming out in late '2001 all while holding price under the 10 ema on the 14 day chart.
If BTC follows the price action of AMZN I see BTC hitting 250k+ in a 15-20 year timeframe. Not what you really wanted to hear but that's what I see.
I hope you found this interesting and somewhat helpful.
Reminder this is NOT financial advice if you need financial aid seek help from a licenced professional.
In this analysis I deep dive into the price action of AMZN and BTC.
This is just my idea and should not be used for trading purposes, as crypto is highly volatile you could lose most if not all your capital this is NOT financial advice if you need fanatical aid seek a licenced professional.
I use the 10 ema, 50 ma and trend based fib extension to plot future levels to work with. I also used the drawing tools and bars pattern tool along with the date ranges to show me the time zones in which price played out in this analysis.
Like the dotcom bubble in the 2000's I see similar things playing out with AMZN to BTC charts.
With BTC falling down to its 2017/18 high just like AMZN did in the '2000 we see similar price action playing out indicating to me we are about to see a 75% drop on the BTC price.
AMZN toped out around the 0.5% - 0.618% levels just like BTC it has also followed in the same way toping out at the 0.5% - 0.618 levels with price holding under the 10 ema as my momentum indicator we see selling continue and price falling as a consequence.
It is amazing to see price play out so similarly which is why I see a potential 75% drop coming in the near future. With price holding above the 2017/18 highs I see price running into the future 10 ema wall and potentially starting the decent in price for BTC down to 4'400 the -50% level bottoming around mid to late '2023. Now on the AMZN chart price fell to the -0.382 level before starting its bull run so keep this in mind but for percentage levels I see BTC fall to the lower -0.5% level.
I also copied the RIS form the AMZN chart and drew it in as best I could of course the future predictions are not guaranteed but are good visual potential plays if the price of BTC follows suet.
The dotted line is the top of the BTC highs from 2017/18 showing us that the current price is forming a base. Just like AMZN did price held under the -0.075 level and formed a base before falling a further 75% in price bottoming out in late '2001 all while holding price under the 10 ema on the 14 day chart.
If BTC follows the price action of AMZN I see BTC hitting 250k+ in a 15-20 year timeframe. Not what you really wanted to hear but that's what I see.
I hope you found this interesting and somewhat helpful.
Reminder this is NOT financial advice if you need financial aid seek help from a licenced professional.
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