Bitcoin (BTC): Be Patient
Just going to leave this here as we head into the weekend.
I don't claim to have a crystal ball but I'm going to go out on a limb here and say BTC simply hasn't made a long-term bottom.
BTC can bounce to $34,000-$35,000.
From there I'm expecting another move down to test the 200W MA or the exact middle of the Channel.
Too much confluence in this area.
Can't be a coincidence.
This is very likely a Bear Market.
Something also to note is BTC has never formed a significant bottom, closing a Daily candle like this. Both Red and not filled.
The only other time I noticed this same type of candle under similar conditions was during the 2018 Bear Market:
Anyways just my thoughts here,
Let me know your perspectives!
(Side Note): Working on an SPX and NASDAQ update, and will post them probably Sunday.
I don't claim to have a crystal ball but I'm going to go out on a limb here and say BTC simply hasn't made a long-term bottom.
BTC can bounce to $34,000-$35,000.
From there I'm expecting another move down to test the 200W MA or the exact middle of the Channel.
Too much confluence in this area.
Can't be a coincidence.
This is very likely a Bear Market.
Something also to note is BTC has never formed a significant bottom, closing a Daily candle like this. Both Red and not filled.
The only other time I noticed this same type of candle under similar conditions was during the 2018 Bear Market:
Anyways just my thoughts here,
Let me know your perspectives!
(Side Note): Working on an SPX and NASDAQ update, and will post them probably Sunday.
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