If one removes their emotions regarding BTC and thinks "What will be the likely reaction if the bulls have a negative surprise?"
Hey Mick... I AM aware of the swings... but I made that post regarding the range tightening back on May 20th. Now I know you're more than a stock trader Mick, you may be one full-time now... but there is zero doubt in my mind you went to school for engineering at some point. Once again, call it intuition.... but whatever on that. Here's the chart I see, and as I see it, it's playing out exactly like an applied disturbance on a spring at rest.... We're human so we have emotions, which makes the obvious sometimes hard to see, but make no mistake Mick, there are universal truisms, and universal harmonics that apply to most things in this world. Statics 101 Mick... ... the range has tightened my kangaroo friend.
Odds are you're correct dingo... 20K might be a reach... but it might be close. As I said.... Because... trading vehicles ARE NOT a spring at rest..... its only sometimes that they are. ATM... btc is.
Much of my trading is on speculative stocks; pennys, gold, other metals, explorers, startups, hot to trot.... In nearly every instance they have explosive moves, crash at least 50% then slowly recover as they become accepted (become productive to society). Getting in very early is usually difficult, it's perhaps already exploded, or it is in accumulation phase- creating a foundation to begin and can spend months or even a couple of years to establish. The other way, is to await the inevitable correction- this requiring patience and focus- not losing sight of the ball. My opinion on crypto/BTC, it will become established, right now is correction time, not buying time. There is never a need for haste getting in on a correction, but watching the prey and waiting is not cut out for most traders, it's an investing type mindset.
But...., using a scale where a move from $5 to $10 is the the same as a move from $5000 to $10,000 and then the same from $10,000 to $20,000.... As a visual depiction of things for chart reading... it might not work for most.