Ben // Tradenalytics@tradenalytics
$BTC here's what I think Bitcoin could do next.
The incoming drop in BTC price would likely only take us about $90-97K area.
In the meantime, price tries to test the 200 Day SMA.
Once price tests the SMA properly, we will have the green light for further ATH.
The key to understand is the Manipulator needs to convince the bottom sellers to buy back in at $100K.
Then once price drops to $90K, a multi-week sideways action could convince them to abandon their longs again.
Thereby losing even more money for these $80K bottom shorters / sellers.
Of course, the Manipulator could just pump price straight to $120K now, leaving all of them behind.
Really depends on how these bottom sellers behave in the next few days.