Would you be sad if this happens? Potential downside scenario

7 thg 7, 2020

As we all know Bitcoin has been going sideways and not doing much.

I have published this chart a while ago on Twitter and most people thought that we would easily break the trendline upwards so it didn't get much attention. However, it has been playing out nearly perfectly so far

Here we are testing it again once again. There is surely enough enthusiasm in the space with all the moves happening in the altcoin space. But that also warrants for caution. There has been crazy rallies in the alt space and most of the alt coins has been doubling in value lately. I do feel that getting out of a long bear market wouldn't be as easy as a V shape correction. I think we got another leg down before we go up and rejection from the upper trendline and then breaking the it downwards would get us the last leg we need and set us up for another 2017 style run.