The bear case for bitcoin - will we hit 30k or 50k first?

12. Feb. 2022

BTC has been on a solid downtrend since late November - if you were lucky enough to catch the short, congratulations. Don't believe the youtuber hype when they say "100k bitcoin" - this figure was pulled out of thin air with absolutely no basis on anything factual, other than it sounds like a nice round figure. The great thing about technical analysis is that the charts will still behave in the same way with similar patterns playing out on different assets, cryptos, stocks etc. no matter what it is or what price its at... and bitccoin is no exception. I believe that we entered a downtrend, and even if we do get that pump to 48-50k, the overall trend is still bearish and we will probably dive to 30k levels once again. In the case we do break and close over the 45k area, the pump would most likely be short lived.