BTC bearish outlook
Very bearish at the moment. Can see a bounce within this triangle but appears to be a bear pennant. Expect it to eventually break down.
Support at 30k. A break below would see us visiting 25k and 22k.
19k is the last cycle top so you'd expect very strong support there. A break below could take us to 15k and 10k. (IMO 10k is the absolute rock bottom.)
Bitcoin still rules the crypto world so expect Alt coins to make even larger corrections.
See this happening over the next several weeks to months.
I could be wrong but all macro trends are pointing in this direction.
In the short term could see something like this.
Support at 30k. A break below would see us visiting 25k and 22k.
19k is the last cycle top so you'd expect very strong support there. A break below could take us to 15k and 10k. (IMO 10k is the absolute rock bottom.)
Bitcoin still rules the crypto world so expect Alt coins to make even larger corrections.
See this happening over the next several weeks to months.
I could be wrong but all macro trends are pointing in this direction.
In the short term could see something like this.
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