BTCUSD - I see two scenarios from here
1) We may just cruise on down to ~30K rather sharpish from here, then get a bounce. That's when I'd reevaluate things. A nice bounce would provide enough bull market hopium for the market makers to sell into for the next major leg down to about 20K.
2) We may just get a bounce from here, but it would likely have the same result as above. Best case scenario is that it ends up drawing a big head and shoulders (right shoulder topping out at about 53K), then we'd have a severe dump from there.
We just broke a major, long-term trend line (with authority), so I'm pretty confidently calling this a bear market, unless things turn around in a seriously meaningful way. I'm always happy to change my thinking with changes in the market, but I have no reason to do that yet.
It would honestly take quite a lot for me to turn bullish on crypto at this point. The Bitcoin inverse ETF I bought a while back (BITI... I'm in Canada) is now up 50% from where I bought it, as of today.
Good luck, and trade safely.
2) We may just get a bounce from here, but it would likely have the same result as above. Best case scenario is that it ends up drawing a big head and shoulders (right shoulder topping out at about 53K), then we'd have a severe dump from there.
We just broke a major, long-term trend line (with authority), so I'm pretty confidently calling this a bear market, unless things turn around in a seriously meaningful way. I'm always happy to change my thinking with changes in the market, but I have no reason to do that yet.
It would honestly take quite a lot for me to turn bullish on crypto at this point. The Bitcoin inverse ETF I bought a while back (BITI... I'm in Canada) is now up 50% from where I bought it, as of today.
Good luck, and trade safely.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.