"My bear case for how low Bitcoin drops is about $51,000. If this head and shoulders plays out, Bitcoin will reach about $51,000. This happened three times last cycle. There's only two red lines here, but the third one should be here. And if these bear flags play out, Bitcoin hits $51,000 and then changes course and starts heading up. $51,000 is my bear case."
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Full disclaimer… So, Bitcoin could drop further. I believe that would be a massive buying opportunity. These are the levels I'm looking for. My bear case for how low Bitcoin drops is about $51,000. If this head and shoulders plays out, Bitcoin will reach about $51,000. This happened three times last cycle. There's only two red lines here, but the third one should be here. And if these bear flags play out, Bitcoin hits $51,000 and then changes course and starts heading up. $51,000 is my bear case. My base case is actually $61,000 or the 200-week moving average. Historically, very good support. And with the stock market at all-time highs, people buying the S&P 500 well above the 200-day moving average, but you're not willing to buy Bitcoin close to the 200-week moving average. This is why the majority of investors don't make money. Even in b …