It will take a lot to break this bear trend.We’re currently in a tight range ($19-20K); if BTC breaks out downwards, we’re heading to $10k.A breakout upwards through the range would still not be a definitive sign the bad news is behind us.$13k remains my "low" projection.So, this is the current Bitcoin chart:ADVFNIt is a chart I've predicted here on many occasions; this is the one from May, here on Seeking Alpha:ADVFNNot bad if I say so myself.In January, I posted this:ADVFNI pointed to $20,000 as being a destination point. It took longer but here we are currently.So, what now?My favourite low projection is still $13000, or rather the 'low' being the level it sticks around after the crash hits its absolute bottom.Here is why:ADVFNIt could spike down a lot lower, but the critical signal is, if there is a breakout of this range shown below, it will move a long way in that direction:ADVFNIt's a tight range, so it will give a clear signal either way.If it breaks down, we are off towards $10000. As a bear, I'm not too interested in a break upwards, though I have to say such a move would be a strong signal for a run to $30,000. However, it is not clear to me whether that would be a dead cat bounce or whether it would signal the bottom has passed. Consequently, it wouldn't make me want to start buying back in. It will take a lot to break this bear trend and probably a long passage of time, so a break-up through the range is not defin...
