BTC Sharp Move Down to $7500 w/ Bounce Before Continuing Up

Hello,

I am currently looking at a pattern that has been point out by a few already, so I first would like to give credit to Crypto Savy, give him a follow on YouTube.

BTC is currently playing out a pattern VERY similar to Gold whenever it first had ETF proposal and approval, similar to the current situation w/ BTC and Fidelity, Bakkt, TD Ameritrade, ETC.

I just believe we are at a different point in the pattern than Crypto Savy.

As shown in my chart, I believe our current price position could actually wick down to the $7500 level, similar to the move I circled in green that was the last base in the parabolic move in December 2017.

This would be supported by the blue moving average, and followed by a rapid bounce IMO.

IF the pattern plays out similar to gold, this bounce will easily take us up to the 24-25k area by Halloween time.

So I am currently trading this idea as I see it, setting aside enough cash to grab some BTC if we get lucky enough to get a move down to $7500.

If not, that cash is going into some favorite alts because I believe alt season is also right around the corner.

Good luck with your trading, see you at the top.

- CAHLESS