BTC is crashing but 84k is still the next BTC target
If you're shorting, bag you're profits now, don't stay out there so long hoping that BTC will crash to the 53k zone. It may not drop that low at this point in time.
We saw a stomach wrenching crash a few hours ago, from 70k, it dropped to as low as 65k, and is now consolidating at the 66k zone.
So why am I bullish in spite of the crash? 3 reasons.
1. Daily candle bounced back to the 66k zone and closed within the huge bullish pennant. Bullish pennant was never invalidated.
2. 1D KDJ stochastic oscillator never detected recent panic selling in all of the chart,
3. BUT has detected FOMO volume at 70k. If people are panic buying at 70k, how much more at 66k?
Well a sudden drop this low, only means that someone with a huge BTC stack has sold at market price. Hence, the drop. So let the paperhand sell, and if you still have some funds to spare it's good add some at cheap price.
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