I know I have mentioned how much $BTC loves the 886 once or twice. Turns out the top was a 1.886 extension and we hit the 886 of the pitchfork.
My expectations are more towards the green path, as I just do not see us mega-recovering from here. Patience is key. Don't rush in before you know what's what.
So that would mean ranging for a few month, followed by a shakeout to 20K. All of retail has lost hope (just like before) and sells to market makers, they wash trade it back up, you buy in just before the top and they dump it once again.
Of course, we could also have completed the 3, in which case we could go much deeper. A lot will depend on 'regular' markets. Nobody will stay in crypto if markets go down, as it is not a risk-on asset, despite what the BTC maxers try to sell you.
GL!
My expectations are more towards the green path, as I just do not see us mega-recovering from here. Patience is key. Don't rush in before you know what's what.
So that would mean ranging for a few month, followed by a shakeout to 20K. All of retail has lost hope (just like before) and sells to market makers, they wash trade it back up, you buy in just before the top and they dump it once again.
Of course, we could also have completed the 3, in which case we could go much deeper. A lot will depend on 'regular' markets. Nobody will stay in crypto if markets go down, as it is not a risk-on asset, despite what the BTC maxers try to sell you.
GL!