Just trying to see whats going to happen here, I'm no oracle and can't see into the future, but using some creativity and a few grains of salt I'm seeing a possible "inverted Cup and Handle".
MA50 on hourly has had several fake breakouts so far.
If next move down goes past the previous two, it's trouble for Bitcoin short term.
I see a fast decline into the 6500-area then.
However, it may just as well be so that 10k will hold.
My hunch is that BTC will generally follow the rest of the market, until a recession when BTC will fully decouple.
DONT short, but stay neutral. This will look like a great entry point in a year I think.
But I'm brainwashed into believing in the Mothercoin.
MA50 on hourly has had several fake breakouts so far.
If next move down goes past the previous two, it's trouble for Bitcoin short term.
I see a fast decline into the 6500-area then.
However, it may just as well be so that 10k will hold.
My hunch is that BTC will generally follow the rest of the market, until a recession when BTC will fully decouple.
DONT short, but stay neutral. This will look like a great entry point in a year I think.
But I'm brainwashed into believing in the Mothercoin.