Vinny Lingham has no idea what he's talking about. He is a complete joke imo.
Haha, may be he was druken at the time he said this. People were speculating bitcoin dumped to 2k again when the market blooming over 4.5k USD but now bitcoin has proved its worth and market reached the 5.5k value now.
We may ignore such value speculation and keep on moving with the investment amount we have.
Hmmm we cannot guess his state but there is no possibility for BTC to go below 3k. Now BTC is performing good and values are increasingly slowly which is the positive result for crypto market hence don't go for some low amount prediction. BTC will going to increase in the upcoming years.
If you want to be bearish in this bullish market, you should have some reasons for this. Let me help you to support your position providing bearish signals one by one.
What if the market forms a double top? This chart pattern belongs to a reversal group of patterns and it can confirm a trend reversal or a correction as a "light version".
The double top will be confirmed if the price can break the local swing low. For this, the price will have to break 5000.00 support level .
The other bearish signals are provided by MACD lines and histogram. This indicator supports the downward movement.
RSI is not far from the overbought zone. The line dropped from the zone, moved upward and probably soon, we will see a new falling from 70 level.