“Bitcoin’s Free Fall Is About to Begin! Storage Stocks Break Below Weekly Support, Bubble Bursts!”

The two downside targets for Bitcoin that I called as early as 10.26, 76,300 and 73,300, have both been reached. It’s still too early to buy the dip at current levels, because there has been no panic selling on the daily chart. Bottoming takes time; it won’t happen in just a few days.

Let’s look at today’s market. First, the weekly middle band target of 73,000 was flagged well in advance, and it has now been reached. There isn’t even a bottoming pattern on the 3-day chart, and the current 3-day candles are already opening lower in succession. A free fall is about to begin.

The daily chart is also poised to crash. The lagging span is about to break down, and CCI and OBV both show volume and price moving in sync. The crash has only just begun here. Panic selling and a free fall will come afterward.

In the short term, price rebounded after reaching the key 73,300 level. If you want to enter another short, I suggest waiting for 77,200–78,000. The idea is to push back up and take out the liquidity above Saturday and Sunday’s consolidation range, then fall again. That would draw in another wave of longs before taking out heavily positioned shorts—which would be even better.

What if it doesn’t get there? If it doesn’t, you don’t lose money. The downside target is the midpoint of the previous large weekly bullish candle, at 70,200–70,600. The shakeout target is near weekly support around 69,000. Too many people can see the 67,000–68,000 zone where weekly resistance and support switch roles, so we may not get the chance. It would therefore make more sense to watch the 70,000–69,000 range for signs of bottoming and accumulation before buying the dip again. (Everything depends on actual market conditions; this is only speculation.)

A quick word on storage stocks: last week I gave you my view that Micron would reach 650, but it has broken below weekly support, so the weekly outlook needs to change. The short-term view is still to watch 650 for a possible rebound; even if it rebounds, that doesn’t mean the trend has reversed, and we’ll still need to find a place to short. SanDisk is a similar story; I won’t give a price level here.

In conclusion: Bitcoin is about to begin a free fall. Give up the fantasies and get ready to short! A bottoming range will take 2–3 months to form, so buying the dip early will only leave you battered. If you can’t short, you won’t lose money either; you’ll still have capital to build positions in stages in the accumulation zone.

Belief is a kind of ability. It’s normal for you to attack my views, because the market needs 80% of people to lose money to function normally. #BTC闪崩插针