Bitcoin More Pain Ahead

6 jul

Expect Bitcoin to reach a target of $49 - 44k within the next few weeks, we should see a reversal to the upside anytime between the 3rd week of July - 2nd week of August. There is an uptrend channel that I have created on my chart which clearly shows the touchpoints in white circles on the top & bottom of trend. Nothing is 100% certain but it is VERY probable for this thesis to hold its place unless something pops the market very sudden to the upside or breaks it to the downside breaking the channel's top or bottom lines. More blood in the crypto streets should be expected, prepare to buy on this dip, hold some cash on the side if possible. My thesis will be invalidated with a black swan event, if Bitcoin holds 50k support or if there is any intervention with liquidity injection which can speed up this timeline I described.

Good luck to all and I will update as needed.

Short Term Bearish (Through Mid-July)
Mid Term Bullish (Late July thru November)