BitcoinSatış
BTC Macro Analysis
Posted this chart a while back: 
with the two red boxes that indicated two bearish levels if BTC broke down. In the last chart/update I said it looked like BTC was finally consolidating and going to make a move, that move was down.
I said in my last update that "I am weary of testing the $6,000 low too many times and breaking down. In the event bitcoin breaks down, it could drag alts another good 30%-40%" and so far that has proven to be accurate for most alts, especially in USD value. Ethereum in particular has dropped exactly 40% with this BTC move down.
Right now, pretty bearish overall. Market sentiment is very poor with most people calling 3k to look for the next leg down. While I think its possible we see another breakdown, I think we may actually dip below 3k and I have not been able to figure out why everyone is thinking that 3k is going to be the bottom. Looking at the chart, there is a pretty big range in the $1800-$3000 that could be tested if we end up breaking down further.
In the event of a further breakdown, which I think is probably likely, I am looking to the $1800 level to find a bottom. I do not expect to stay this low for too long if we do break down, and anticipating there will be a lot of volume stepping in at these $1800-$3000 price levels, but at the end of the day...what do I know....I'm just a Dragon.
TDLR: Bearish, looking below 3k for a bottom, alts will continue to dump with BTC
I am not a financial advisors and none of this should be considered financial advice, this is just my opinion and analysis.
I said in my last update that "I am weary of testing the $6,000 low too many times and breaking down. In the event bitcoin breaks down, it could drag alts another good 30%-40%" and so far that has proven to be accurate for most alts, especially in USD value. Ethereum in particular has dropped exactly 40% with this BTC move down.
Right now, pretty bearish overall. Market sentiment is very poor with most people calling 3k to look for the next leg down. While I think its possible we see another breakdown, I think we may actually dip below 3k and I have not been able to figure out why everyone is thinking that 3k is going to be the bottom. Looking at the chart, there is a pretty big range in the $1800-$3000 that could be tested if we end up breaking down further.
In the event of a further breakdown, which I think is probably likely, I am looking to the $1800 level to find a bottom. I do not expect to stay this low for too long if we do break down, and anticipating there will be a lot of volume stepping in at these $1800-$3000 price levels, but at the end of the day...what do I know....I'm just a Dragon.
TDLR: Bearish, looking below 3k for a bottom, alts will continue to dump with BTC
I am not a financial advisors and none of this should be considered financial advice, this is just my opinion and analysis.
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.