Bitcoin Thoughts (is bad)
We lost the Bull Market Support Band, the trend lines on the chart and DXY (dollar) is pumping.
The SPX,NDX put in a lower low.
I think 20-25k is imminent with a big capitulation some time in the summer.
No bullish argument left other than RSI bullish divergence. But the RSI also has a bearish divergence.
We've bottomed around 30 RSI previous times. With the lower trend line on the RSI a bottom could happen in September this year. (plus or minus one month)
With higher inflation every month and the FED being hawkish there is little chance BTC will pump to new all time highs.
All i'm saying is : accumulate till the next halving because by then all these things could have an end (war, inflation, hawkish FED, red stock market)
The SPX,NDX put in a lower low.
I think 20-25k is imminent with a big capitulation some time in the summer.
No bullish argument left other than RSI bullish divergence. But the RSI also has a bearish divergence.
We've bottomed around 30 RSI previous times. With the lower trend line on the RSI a bottom could happen in September this year. (plus or minus one month)
With higher inflation every month and the FED being hawkish there is little chance BTC will pump to new all time highs.
All i'm saying is : accumulate till the next halving because by then all these things could have an end (war, inflation, hawkish FED, red stock market)
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