Bitcoin Macro Bear Market Outlook - Three Drives Pattern?

26 Ağu 2022

Long-term BTC outlook remains bearish, possible scenarios drawn in the cyan lines. Downward scenario seems more likely than an upward move from here. Looking more and more clear of a potential technical pattern of a three drives pattern shown, with the final 3rd drive incoming, down to a target level of around $10k to $7k, forming a bottom, at around Jan-Mar of 2023 and lasting until end of 2023 before a potential reversal and a new bull market.

26 Ağu 2022

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Also, we are currently forming a secondary bear flag that extends down as the third drive & leg down.