$BTC

I’m reading comments like this: BTC could see $140K. Or it could see $40K–$50K. But I can’t find a detailed explanation anywhere that shows why it could go there. While it was dropping from the $110Ks to $80K: everyone was looking for a reason, but there was no answer!

At least I’m making estimates based on chart patterns. Since it’s an instrument without a financial valuation tool in the background, I can only comment from a technical perspective.

Anyone who understands even a little technical analysis can see that this picture could be an H+S. At one point they were saying there’s a 70-day lag between it and GlobalM2 😊 I said many times that it doesn’t happen like that. I guess 70 days have passed, but we still haven’t seen a rally. This pattern can break upward, and in fact that probability is higher right now, but I no longer find BTC safe and I look for a topping formation. Even if it moves above the double head, I would still track it using that area as a stop zone.

If even in this situation someone says BTC will turn back up, they should explain the reason. Otherwise it starts to look like fortune telling, because based on its characteristic behavior, the rally is now over and any bounces will be used for distribution

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