WATCH OUT FOR BITCOIN RETRACE TO 17K IN JANUARY.
FIRST OF ALL, WE CAN GO TO 37K-40K AREA NEXT, BEFORE THE DRAWDOWN. THAT SAID, ODDS OF TAGGING 18K AGAIN IN NEXT 35 DAYS (5 WEEKS) IS VERY, VERY HIGH.
I'm hella busy so I may not have time to add anything even though I want to. But if you are in bitcoin, its TIME (but not HIGH TIME) to take some off the table, especially if it makes one more pop to 37K+ the next 7-14 days. Whether or not it will doesn't matter significantly, you will get a 50-60% discount within 20 days after that. The low depends on the high. So if high is 34 or less, then expect low under 16k. If 38K or higher, expect 17K.
I'm hella busy so I may not have time to add anything even though I want to. But if you are in bitcoin, its TIME (but not HIGH TIME) to take some off the table, especially if it makes one more pop to 37K+ the next 7-14 days. Whether or not it will doesn't matter significantly, you will get a 50-60% discount within 20 days after that. The low depends on the high. So if high is 34 or less, then expect low under 16k. If 38K or higher, expect 17K.
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BTW, here was the call for ATH in the summer:
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Pretty sure I nailed that one. THIS WAS JULY 19TH!!Nota
For the moment, runaway top looks like 40800 around 01/06-01/07. Why? Because the only wave left to "max out" is this gray wave on 90 min bars:Nota
Here's a better look: 34xxx as of this update, but again, anything above 37k is dangerous territory because this is bitcoin we are talking about.
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Monday morning: overnight action dropped 7K from 35-ish to 28-ish. 32K as of this update. Is it safe to say that it has topped? No. My reason is this volume action on 90-min bars is NOT INDICATIVE of a "top is in" situation. If forced to forecast, I would still project 1 more step up to January 6th. Here is what I see:Nota
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