BTC as a sinking ship

BTC and ETH and pretty much anything that was still hanging on, broke loose yesterday. BTC has broken its major ascending trend line and its 200 day moving average.

While we may see some pull back up from here, we are now in a descending pattern and likely to meet resistance at our prior support. The only shining ray of sunlight is that BTC dominance looks like it may get beat back by resistance which might tell a story of an ETH and possibly ETH alt run while BTC continues to claw back but outside of that slightly possible good news in the chart, the rest of the charts just look bad.

I would be very cautious going long here, BTC could see a lot more pullback and is likely in a longer term decline pattern now and as we know when it pulls back hard, so does the rest of the market usually.

I dont go short because it somehow never pans out for me but this is probably a good time to be short. Be vigilant,if you are looking for gains I recommend you look at short time-frames which of course are much harder to predict then longer candle directions.

One of the few places that look bright for investing anywhere right now is AI, try to find some good AI investments and you might find your next unicorn but you may want to look outside of crypto for now.

This is not investment advice, you should always DYOR.