Significant drop ahead...
TREND:
As Benjamin Cohen said (see the link), once the weakly closes under the 50W-MA, the price go down to the 200W-MA (Happend 2 times).
If you calculate the percentage drop from the 50W-MA to the 200W-MA you get:
-for the 11 Aug 14, a drop of 59%;
-for the 28 May 18, a drop of 59%.
Now if you calculate a drop of 59% from 3 Jan 22, you get a price of around 20k USD, which coincide very closely to the 200W-MA.
PATTERN:
A descending wedge seems to be taking place. In my experience, descending wedges are caracterized by a rebound from the lowet trending line to the 0.382 FIB.
Pretty much what happend...
PLUS...:
-Current geopolitical situation;
-Gareth Soloway prediction of around 20k;
-Voume support at... 20k;
As Benjamin Cohen said (see the link), once the weakly closes under the 50W-MA, the price go down to the 200W-MA (Happend 2 times).
If you calculate the percentage drop from the 50W-MA to the 200W-MA you get:
-for the 11 Aug 14, a drop of 59%;
-for the 28 May 18, a drop of 59%.
Now if you calculate a drop of 59% from 3 Jan 22, you get a price of around 20k USD, which coincide very closely to the 200W-MA.
PATTERN:
A descending wedge seems to be taking place. In my experience, descending wedges are caracterized by a rebound from the lowet trending line to the 0.382 FIB.
Pretty much what happend...
PLUS...:
-Current geopolitical situation;
-Gareth Soloway prediction of around 20k;
-Voume support at... 20k;
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