If Gannfan scenario is true, Bitcoin may fall below $10,000. Take a look at Bitcoin's historical performance based on Gennfan:
Cycle 1:
At the top, BTC touched 1/8 of the gannfan and broke down 1/4 at the bottom
Cycle 2:
At the top, BTC touched 1/4 of the gannfan and broke down 1/3 at the bottom
Cycle 3:
At the top, BTC touched 1/3 of the gannfan and broke down 1/2 at the bottom
According to this scenario, Bitcoin will break down 1/2 of the Genfan, and this will require a price drop below $10,000.
Cycle 1:
At the top, BTC touched 1/8 of the gannfan and broke down 1/4 at the bottom
Cycle 2:
At the top, BTC touched 1/4 of the gannfan and broke down 1/3 at the bottom
Cycle 3:
At the top, BTC touched 1/3 of the gannfan and broke down 1/2 at the bottom
According to this scenario, Bitcoin will break down 1/2 of the Genfan, and this will require a price drop below $10,000.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.