Doc's Daily Commentary and Watchlist

Mind Of Mav

Where does Bitcoin go from here?

The recent Price Action seems very similar to the April/May drop, when Bitcoin went from 40K down to 28K so should we worry about another leg down for Bitcoin and Crypto?

The current chart

Our current range finds it lows at 18K and highs at 25K.

Currently, price has been at this Lower Range and tested 18K on September 21. The price didn’t respond positively here like it did in June, at the start of this range.

Considering how long we’ve been in this range, I’d say we’re close to another big move.

For comparison, this is the 33–48K range from January-April which I mentioned earlier.

The two charts look awfully much alike, consisting of an initial consolidation, a breakout of the range to then slowly grinding down and making Lower Lows.

If history repeats exactly, we’d see Bitcoin down at 14–14.5K for the next area of support.

Historical areas of Support

Now zooming out all the way to the 2017 top, we can try to find the areas of support from the previous Bitcoin cycle.

There are 4 zones of interest to be looking at here:

1) +/- 20K which we’re fighting for now and have technically already broken multiple times. This was the 2017 cycle top.

2) 14K, the absolute high from the 2019 Bull run

3) 12K, the local 2019 and early 2020 top

4) 10K, the Pre-Covid crash level and the starting point of the 2020 Bull run

We might also find support somewhere between 14 and 18K but Bitcoin has historically spent extremely little time at these levels so we can’t determine this via historical areas of support/resistance.

Does the downtrend continue?

Let’s look at the trendlines:

We’re obviously still in our Quarterly downtrend which started at the November 69K top. To break this trend, we’d need to go up to 30K and confidently sustain this level for multiple weeks.

For the short term, this is highly unlikely.

At the same time, we’re also in a Monthly downtrend.

Breaking out of this downtrend however, is way more likely on the short term, considering we’d only need to get back to 22–23K to confidently break out which is only a 15–20% move from here.


High-Timeframe indicators such as the MVRV-Z score or the 200 Week moving average all indicate that the bottom should be already in.

However, due to recent charts, persevering bad macro-economic news and persisting overall pessimism in the markets I’d say that we will see another leg down. Unless we see a very strong move to the upside, say 23K and break the monthly downtrend, I’d expect bearishness.

How low Bitcion will go is hard to predict but I expect an absolute worst case scenario at 11.5-12K. Price might drop down to 17K and recover too but it’s hard to say exactly where Bitcoin will find it’s bottom.


The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

Move Your Mouse Over Charts Below For More Information

The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

Add your vote to the V4 Portfolio by clicking here.

Read about building Crypto Portfolio Diversity by clicking here.

What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:



Move Your Mouse Over Charts Below For More Information

Our Discord

Join Our Crypto Trader & Investor Chatrooms by clicking here!

Please DM us with your email address if you are a full OMNIA member and want to be given full Discord privileges.