Is it over for crypto??

3 jun 2022

The market does look bad. BTC has lost weekly and monthly supports that turned into resistance. Is bitcoin about to print 10th(!!!) weekly red candle? I have never seen such bearish sentiment in 5 years. Are bears gonna get away with it so easy? Easiest long trade would be if BTC could reclaim weekly support ant 31.5k. My personal view is that we should have a relief bounce sooner than later. Probably BTC will continue to range forming bullish divergence and initiate the squeeze into 38-40k area as shown in green scenario. From there we could continue crawling down again. Worst cast scenario, which is very unlikely IMO, we just continue to dump with no bounces into the next weekly support. If you are looking for shorts, you are too late IMO.