Imminent Bitcoin Crash Price Targets (How Low Could BTC Drop?)

back by popular demand we brought on an expert trader and another crypto youtuber to discuss the bearish scenario for bitcoin how low can this price go and the targets for where we could see the price drop to are absolutely insane are we gonna see a continuation of the bitcoin bull market or are we destined to go through another bear winter sooner rather than later today i'm joined by carl from the moon youtube channel as he discusses and predicts where he believes bitcoin is going in the next month let's get it bid swap is the hottest new way to trade tokens probably all the top decentralized exchanges biswap gets you the very best price and value for your trades bitswap is changing the game try it now at hey guys i'm joined here with carl from the moon now listen he's back on the channel exactly as i predicted he's back here to talk about bitcoin uh today i want to break down a little bit about the downside of the charts with bitcoin where could this thing end up uh you know a lot of people have been very bearish we just had jp morgan that came out and said they believe you know 40k is the top two weeks or three weeks after saying 146k was coming uh can you talk a little bit about you know some of the charting that you've seen on your channel uh you know some of the things that you've done that kind of show the bottom side of what we could possibly be looking at before you know most of us believe we get a return to good price action yeah sure i mean uh first of all thank you so much for being on the channel um i and yeah like we have been going up a lot in the past few months and i think that um everyone knows that a correction is always around the corner when we're seeing these huge bull runs you just go back into the chart and you can see that uh bitcoin tends to correct even in a huge bull run we can see 40 50 even 60 corrections sometimes um and specifically in the last four run we did see 40 corrections consistently even when bitcoin was going up towards 20 000.

So um yeah let's let's maybe go into the charts and we can take a look at um some price targets that could potentially be uh valid if we do see these big uh like this big bearish scenario so to speak all right so here we go this is the cme futures chart so basically bitcoin is traded on the cme and the thing is that the cme futures chart is of course only traded during the week days so sometimes we see these gaps and as these green boxes down here are the gaps basically when when uh when the cme future is uh close and then open at the higher price that means that the beacon price was um changing a lot during this um the period of time where the cme wasn't treated and these gaps they tend to get filled that's kind of the the idea here um and so some people are always asking like why do these cme gaps matter why do they even get filled in the first place no one really knows it's like it's just like it's just like a thing see me like everyone who trades stocks and who trades anything at all they they know that see me futures or cme gap or gaps in general um in any like chart they they fill sooner rather than later and for bitcoin you can see here for example we had one big gap right there from 29 500 up to 33 000 and this gap you can see immediately came down and just filled and then the price continued to go higher and um going back you can see that we have a big gap down here this is kind of the gap that people are talking about right now the the bottom of this gap is down at 23 000 approximately 23 700 and uh of course if beethoven were to come all the way down there then that would be a correction of approximately something like 22 23 and um but but how big of a correction is that from the top you know that's i think that's historically when we look back at the charts here in a few years you know when this bull runs over i think that's what people will be measuring i think that's a giant drop there true all right let's take a look at so first of all so far what we've seen from the top to where biscuit is currently approximately 30 drop but you know we we can see all the way down to 40 easily in in bull runs and going down to this gap would actually be 44 percent approximately you see and that's not that big to be honest if you go back into the bitcoin chart you can see that 40 crores are very very normal in a bull market um so this is something that could easily happen easily easily based on statistics and based on previous price action so that kind of makes the question could we go even lower and i know that people don't like bearish um parish predictions and by the way this is not a prediction i'm not predicting this right now i'm just like telling you guys that there are cme gaps down here and there is a gap down here this green box all the way down at 18 000 approximately and um let's take a look at that then how far a correction could that be from the top down to 18 000 would be approximately uh as you can see 57 and that's a lot that's a bigger one that's a bigger one and this is something that we don't see in a bull market this would this would be more like a bear market territory kind of thing which means that um this what we saw here from the corona dump up towards 42 000 that was the bull market and maybe we were to switch into a bear market here because i would say 57 is a little bit too much to kind of call it a bull market and if we were to see something like this then i think that most likely we would see kind of a a short bear market not a long one not the long one at all but like a short maybe like a four to seven months kind of bear market um but not this like multi-year bear market uh but talking about these gaps we do have one even lower down here uh this gap down at 17 seventeen thousand and um well let's just um do what we have to do these are scary numbers these are scary numbers yeah so that would be sixty percent and um but then again like honestly if we look at this 60 down 17 000 it was only a matter of like yeah back in december of last year we were at this level so we're talking about like two three months ago we were there so yeah it sounds horrible when you say six percent down um but we have we have seen such a huge uh bull run that even if this happens most of us are still in profit right but um but yeah i'm not saying that this is going to take place but i do think we have to kind of pay attention to these things because when we see exuberance like this euphoria which we have seen definitely um we always see price correct we have to shake out the weak hands because i mean all of us watching these videos i mean most of us we we were in bitcoin way below fifteen thousand of course we know bitcoin we uh or we know if area we understand kind of why we're in this space right now but the thing is that people are jumping up here those are the people we have to be able to be concerned about because these people probably only buy because of the price going up because it just looks nice to buy something that is pumping every day right they see their friend they look at their friends portfolio up ten percent in a day and the in the workspace people are talking about bitcoin so these people are jumping in here and these are the people that might have to be shaken out um because yeah and also of course the people that buy in the latest because our price they are the first ones to sell as soon as the price starts to go down because when price is no fun anymore they will be selling yeah um yeah we definitely always say these bubbles i think you know the interesting thing about the cme gaps um is that we haven't seen the way that they've reacted in a bull market yet we've pretty much only seen these cme gaps in bitcoin during a bear market because they didn't launch until basically the very very top of the bitcoin market so you know for that reason i tend to think uh you know that a lot of these will end up getting filled maybe after the bull market and i definitely don't believe that this is the end of the bull market i think when you start even talking about a 44 to 45 drop i think it starts to get pretty dicey uh for continuing on uh in a bull market and i think that personally we're not gonna get through those numbers but if if it does occur like what you said uh that we go through this and then like you know maybe a six or seven month bear market that would kind of negate almost everything we've ever seen in the history of bitcoin you know that that would mean that we are now on a new path in uncharted territory where bitcoin cycles don't really apply and for me personally that's a big jump but i'm also not dumb enough to think that at some point that won't end and that we won't get kind of a new a new cycle if you will but what do you think about in terms of like just the charts we're looking at what's happening here uh and i know you like the charts but then on the fundamental side we've got grayscale buying 1.3 billion when it hit 30 million we're seeing you know micro strategy by these amounts so last week set a record for the amount of inflow into cryptocurrency and yet the price was dumping to me that screams of manipulation pushing the price down intentionally because we're about to get a big pop to the upside ultimately where do you feel like in in the short term and by short term i mean in the next one to two months what do you see playing out yeah so you touched on something interesting there like if we were to see this big correction down to these levels nca multi-month fair market then this would be out of the ordinary for bitcoin this would be something new and that would mean that the trend this 12-year trend is over so right that leads me to believe that this is probably not the likeliest scenario i don't think we're gonna see this bear market scenario play out because it just doesn't really make sense with previous price action um but yeah what do i actually think is gonna play out well let me just show you something else here in the chart real quick because you can find this falling wedge or bull pendants in the cme chart or even in the spots chart doesn't really matter you can see it in both and this is of course a bullish pattern and so we talked about the battery scenario obviously filling the gaps here but there is this bullish scenario you can see a very very well clear defined resistance here in the bitcoin price so it's very obvious to anyone who knows anything about ta that if we were to break this resistance that would be bullish that would mean that we are most likely going to see another lake to the upside something else that is important here is to see that the volume is declining here this always indicates a big boom this indicates that we are consolidating now after this um this huge bull run and the bitcoin is getting ready for the next big um big move this big uh change and whether this change is a big trend change or or just like another big lake up here and basically um ending this consolidation that remains to be seen and that's why we have to pay attention to the support and resistance in this falling wedge uh because um the the boost scenario obviously is breaking to the upside and the bearish is to break to the downside and in terms of like targets here you could definitely call this um a pennant and if you were to do that then you would have to measure the target something like this you could measure from this point or all the way down from this point and if you were to take it from this point then we just pull this up like this and this is just this classic technical analysis and the exact target is going to be then approximately 54 000 if you look at it on this chart if you look at different spot charts it will say maybe 53 000.54 it depends but like approximately well above 50 000 at least if we do see this center play out so that's why we just um have to kind of set our price alerts here because we are ranging in this uh like consolidation but it's not going to consolidate forever we know that when bitcoin loses volatility like this we always know that it's just temporary there is a huge move coming guys that's for sure yeah and you know i i love this 54 000 target because this really lines up with what we saw with some bitcoin options uh where they were taking options at 52 000 by the end of january which is you know less than a week away now uh could we get a big move that could be that explosive in that amount of time i'm not really sure but you know if it extends out a week or two weeks to the middle of february a lot of people are saying february is going to be a big month the reason for that i think would be because we're getting to the end of this wedge and here's here's the real truth if we break down out of this wedge we all need to take a look in the mirror and start realizing maybe that was the top and but i don't think that that's going to happen i don't think you think that is going to happen most people here on youtube do not believe that that is going to happen so carl thank you so much for joining us today and uh giving us a little 101 on the charts uh and showing us a little bit about the cme gap and uh you know and things like that so everybody if you want to go subscribe to carl's carl's channel the moon the moon is the name of his channel of course you guys can go down in the video description i'm going to have uh a link there you guys can click and you guys can go and subscribe to his channel because he does a phenomenal job i watch your videos you make multiple videos a day you're in the multiple video per day club these days and i i watch at least one of your videos every single day because you do a really great job breaking stuff down so thanks for joining us today thank you so much for having me here i think that we should do this more often because i feel like when we do these collabs people love it and it seems like a very very fun thing to do right i enjoy this a lot so we'll do it again soon awesome absolutely all right guys thank you guys so much for watching make sure to drop a comment down below if you guys want more collabs make sure to smash that like button that's all i got be blessed [Music] you

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