BTC, can we expect a move down?

2020年11月18日

Please feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.

Also make sure to leave a like as it helps me out a lot!

------------------------------------------------------------------------------------------


The end of October and the rest of November have been nothing less than incredible so far. Last time when were this lucky to experience this kind of price action was back in 2017. But what can we expect next?

Three crucial resistance zones to look for are identified in the chart, with the main one being the 20K level.

I personally don't believe we'll make a move straight up and through. I believe we might see some consolidation at this 18K level (or maybe at the 20K level) after which we can experience a move to the downside.

If we retest the biggest previous support zone, which is 11K - 12K, this would mean a 30% - 40% drop. So don't be afraid if you see this unfolding over the coming days.

I'm personally taking gains from BTC and moving them to altcoins as they are prone to begin their moves as well.

Good luck!