63K-67K by April 1 Channel in tact - so predictable
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I've been posting about this channel since December and predicted 50K March 1 by following the channel I mapped out, which you can see clearly on the graph.
• In the Jan crash, bitcoin fell from $41,800 to $28,800, a 31% drop.
• In the Feb crash, bitcoin fell from $58,300 to $44,200, a 24% drop.
I think this is the beginning of a trend. As bitcoin bull run accelerates, the drops get smaller, as in all bull runs. My guess is next correction will be 15%-20%.
Anything 44-50 is a buy. You may get lucky with a hail mary buy at 40K but I doubt it. Dominant psych is to put buy orders in at 41/42/43 to beat the fool with the order at 40K.
In last dip, many crypto "excerpts" were saying it would dip to 24K, implying a 43% drop. The reasoning for this was this is what it had done in the past. But they failed to recognize the bull run we were in.
• In the Jan crash, bitcoin fell from $41,800 to $28,800, a 31% drop.
• In the Feb crash, bitcoin fell from $58,300 to $44,200, a 24% drop.
I think this is the beginning of a trend. As bitcoin bull run accelerates, the drops get smaller, as in all bull runs. My guess is next correction will be 15%-20%.
Anything 44-50 is a buy. You may get lucky with a hail mary buy at 40K but I doubt it. Dominant psych is to put buy orders in at 41/42/43 to beat the fool with the order at 40K.
In last dip, many crypto "excerpts" were saying it would dip to 24K, implying a 43% drop. The reasoning for this was this is what it had done in the past. But they failed to recognize the bull run we were in.
Note
Also note the ascending cup and handle (if it recovers to 55)
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