๐ $19217 could be the low before Bitcoin finally takes off! ๐
Please read the following to understand the reason why.
๐ Let's rewind to 2017: Bitcoin, at its peak, saw a significant drop from 20k to a seemingly daunting $3124.
Panic ensued, and the '1k charts' prophecy loomed. Many influencers are lost till today who were too stubborn to accept the reality!
๐ก Here's the plot twist: Bitcoin didn't plunge to those depths. During the coronavirus dump in March 2020, Again, those nuts started calling for 1k charts dreading another nosedive.
However, the Corona dump's low was $3880, which is 24.2% higher than the previous low.
๐ค If, by some chance, Bitcoin experiences a similar setback, applying that same 24.2% increment logic, we could speculate that the potential low might stand at $192174.
๐คThe same level aligns with the orange support trendline near to halving! (Look into the chart)
๐As per fractals, the event could take place in the first quarter of 2024.
CONCLUSION:- A new low is highly unlikely but any Black Swan event or the last sweep before the mega rally could take BTC to $19217 which might happen to one last time to buy BTC below 20k!
What do you think about it?
Do you think BTC could make a new low?
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