The Bull Market is Over!
Actualizado
This is a reminder to unfollow anyone that says we are still in a bull market..
The play has been to find opportunities to fade the bounces since January. We are now looking like we will sweep the low 30s soon.
Can we recover from here? Sure, but not as probable as dip lower. Stock Market has put a lot of pressure on Bitcoin as well. Strong stock market could help Bitcoin recover but it doesnt look promising right now.
The BULL Case:
- Hold the 3D above 36k and get back above diagonal and 40k recovery. That would scare the bears back to hibernation for a bit. Stock market pump would be a bonus.
The BEAR Case:
- Stock market opens tomorrow and bleeds hard again driving Bitcoin down to lows. Dip could happen with neutral market but more likely a slow bleed down the rest of the week if so. 30k will be tough to crack unless global markets tank all week and/or war news make for perfect storm.
My bet is slow bleed down to 32k area and bounce back up to 36-37k before next battle presents itself.
The play has been to find opportunities to fade the bounces since January. We are now looking like we will sweep the low 30s soon.
Can we recover from here? Sure, but not as probable as dip lower. Stock Market has put a lot of pressure on Bitcoin as well. Strong stock market could help Bitcoin recover but it doesnt look promising right now.
The BULL Case:
- Hold the 3D above 36k and get back above diagonal and 40k recovery. That would scare the bears back to hibernation for a bit. Stock market pump would be a bonus.
The BEAR Case:
- Stock market opens tomorrow and bleeds hard again driving Bitcoin down to lows. Dip could happen with neutral market but more likely a slow bleed down the rest of the week if so. 30k will be tough to crack unless global markets tank all week and/or war news make for perfect storm.
My bet is slow bleed down to 32k area and bounce back up to 36-37k before next battle presents itself.
Nota
potential bearish paths from here
Trading:
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Savings:
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Phemex: Referral Code= EC7RK2
Bybit: Referral Code= 47YY0
Kucoin: Referral Code= 1syh4
Savings:
Nexo: nexo.io/ref/vapxz4xm8x?src=ios-link
BlockFi: Referral Code= 88fda124
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