Bitcoin is dropping & capitulation is less than 20 days away! BTC technical analysis & price targets

so I wanted to give you guys a quick update of two possibilities what I think is going to happen if you you guys already have my shirt have access to my sharable charts you probably notice I added this blue fib circle and I was pretty much just interested in this ring right here by the way if you don't actually have access to my charts that information is in the description but the reason I put this ring here and usually I I'm going to do these rings I used them to find you know points when it's going to drop and this this hip circle matches up perfect with price action but but the reason I set it up and I created it when price was about right here and I wanted to find out because price just just shot straight up and I wanted to find out if it was going to continue up to a certain point or if it was going to stop right at a point I could find and sure enough when I set up this fit circle and you can see how price respects each one of these rings was going back and forth in this channel came through is just some support came up it was support came to this point broke down and then it found resistance and it found resistance again so if this was Amazon stock and all of a sudden it came out of the news Amazon came up with a teleportation device with a compress button and magically a package to appear on your porch people would get interested and they would buy Amazon stock and it was just skyrocket and start shooting straight up if I'd be an over-exaggeration but just because it shot straight up and stopped right here on this perfect curve that it matches up with the rest of price action that's an algorithm it's a body they that by for some reason it was time to push price up either to get people interested again or to get to a point to start liquidating on Long's and shorts because you can see that it's been going up and down up and down and you'll notice it went kind of sideways and then when it hit this ring now now it started to come down and you also noted that notice that added this of this green pitch here let me make a look writer so you can see it so right now price action is working within within these channels here so if we break below this channel the next one you come to is this one and then this one you know if it says if it's a strong drop it'll come straight down but the two scenarios that I have for you let me make this a little less bright so you can see okay so I made a video where I call the top back here I think we're probably right here when I call the top I'll put that video up right now so you can check that out but you can see that uh we came up above this blue ring here then we came back down we almost made it to this one but not quite the same thing happened we came down we bounced right off of this white line came up we went above we found support on this blue ring we came up didn't quite make it to this one so you can see we're on a downward trajectory and we're following this green pitchfork going down so we were finding support resistance on it came down below it and again this same line right here this line that I'm moving well it won't let me move it here this line right here you can see when we hit that line it came up came back down but then that's when it pushed it straight up so I think what's gonna happen is is we're gonna continue come down and hit this line and remember every time you hit it it gets weaker so we could hit it and then fall through if we do come down and hit it again it'll be around 9265 the next strong support I have actually a lot of strong score it's got pitchforks lines Angie got my blue ring here which is around eight thousand three hundred thirty nine and we're getting awfully close to this line of capitulation so that's one scenario that we continue down the other one is there could be one one last hoorah before getting to this point which they're gonna do the same thing and when I say there I mean the wells and the exchanges so it's possible if we move up and we find very strong support kind of like we did you saw it moved uptown support I moved up it's possible that we could come up above this and move up close to this blue ring here and remember this is a downward sloping angle so the longer it takes the lower it'll be but if it does play out the same as this the highest point I see us going again within this average here is around 12,000 so keep an eye if we get on top of this ring we find support you know maybe one of these rings we start pushing up look for look for about 12,000 maybe even lower maybe 11,500 but look look at that as your highest point that's if it does go up to that point that's when I would sell because from their own I think it's going to be coming down and it is getting closer to this point and let's see let me go I want to copy this ring and go to the capitulation chart let's see copy and paste this in here so you can see this this is the the same chart to my capitulation chart you can see that what we're doing is we're we're staying in between this this blue ring here and we're staying pretty much above this red ring and what's happening is we're getting we're getting closer to this point and look at all of the lines of confluence we have we have this red ring this blue ring this capitulation ring and then you've got this pitchfork line I mean I have it the same color as everything else is kinda hard to see but you can see this line right here and runs through where we capitulated and that point comes to right here so all of that confluence tells me that when we actually capitulate I think it's going to be right around here so I think that's where price is headed whether we come up a little bit we're gonna have a faster drop down or it's just going to play ping-pong it's going to go up and down up and down until we get to this point so and also I would just just because this is such you know this line comes right through we could elated you can see this ring right here I actually have it as part of where we capitulated came down found support so I want to do I'm gonna do a swing low to swing high Wow that's right on the center so if you just go from the capitulation point right and you come to that's the point that's the point six one eight that's another line of confluence right there you got your point six one eight you've got this blue ring this red ring pitch elation ring and the center line of the pitchfork connecting 2015 to 2019 so to me it looks like this is where we're headed right down to you know usually even numbers that where bitcoin hits but that's right around $9,000 which makes a lot of sense so just pay attention to those things at all I'll keep updating these charts and updating you guys what I see as price action continues but yeah I this is this is a very strong ring of resistance if you find if you go above it look to possibly push up here below this below this ring I do not see as going above this ring if we continue down then let's copy this yeah so I think we're headed down to down to this line right here because that's that's where our strong support is on this line right here we're gonna come down and retest this line right here and at that point I think we might get a bounce and you know start crossing over and then those targets I gave you below these red lines here around 2500 of 1800 now even though that is a possibility I think you know if we do capitulate down remember remember how price price worked it went from it dropped down from this ring it came down to this ring actually this line it was working on this line the phone resistance it got pushed up right to the line pushed up to the next line and pushed up to this line and I told you guys in that previous video I said that if you had a little bit of volatility I mean it to this next this next line right here in the pitchfork there was more volatility and I said as soon as we got to this line expect even more volatility and that's exactly what's happening and we're moving right to this point so to me the more likely scenario as we hit this point and then we capitulate the more unlikely scenario but a possibility is we come up we find support we move up to about maybe right here getting people excited and then we get a fast drop down at this point and then you might have you know a little a little pump up getting people excited one last time and then down we go so I didn't want everyone to know that if you want access to my charts that information is in the description if you have any questions just shoot me an email my email address is in the description as well but that's it for today until the next one

32 thoughts on “Bitcoin is dropping & capitulation is less than 20 days away! BTC technical analysis & price targets”

  1. To access my shareable charts please read description of this video or email me: [email protected]
    Keep checking the community the section of my channel as i will be making new post as i create new charts.

  2. Deja vu! I remember when price rose to $740 in June 16 from $230 lows & EVERYONE thought it would capitulate back to $200 again. Reality was it had 40% correction and price was $3k a year later.

  3. do you suggest we put stop losses in order to re-buy btc when it is lower ? or do people who hodl just hodl no matter if they have expensive btc's or less expensive ones? I bought mine at 10k euros. and one at 9k euros. thanks very much !

  4. Hi. Maybe you can put up a longer term analysis sometime? Because it's al so different what you are saying compared to other people. Please tell us, do you think Bitcoin will go to a new ath before the end of this year? Great videos. Greets from the Netherlands

  5. It is good to see someone out there who has his own thoughts and ideas; in a world where evryone is screaming 100 K coming; the million around the corner -> good to listen to a different opinion; which way Bitcoin will go nobody knows; but to consider both directions is a good thing. Keep these videos comind – much appreciated. Regards !

  6. if you need a legit bitcoin investor or bitcoin loaner then hackchek on Instagram is the right person..go a life changing loan from him

  7. Odważnie, cokolwiek się stanie tacy ludzie jak Ty są potrzebni, bo potrzebujemy alternatywy. Tylko 5% inwestorów wygrywa a 95% traci. Dzięki

  8. Be careful guys, we will have our lowest of bitcoin in 2 to 3 days time. As long as we hit 8500 then it will start the parabolic run. Just my analysis.

  9. It wont be an easy drop and can be a bumpy ride. It will wreck the bears on the way down too at 8.5k, 7.2k, 5,7k.

  10. According to my elliott wave count, we still have to make a C of the 2 which would go to around 12k and then wave 3 will start the capitulation. @OPTICALARTdotCOM Have you ever thought about learning elliott wave?

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