BTC, Let's keep it simple shall we
Ah, the crypto jungle, where even the bears like to dance! 🕺 So, here we are, staring at a mature bear flag on the daily chart like it's that ex you thought you were over, but they just keep showing up. And if this bad boy breaks down decisively, we're careening straight into the “Oh No Zone” with a potential target between 45k and 48.8k.
And what's this? A Death Cross? Sounds like a rejected name for a 90s metal band, but here it is, grimly reminding us that sentiment is shifting faster than a squirrel on a sugar rush. 🐿️
Now, while retail investors are nowhere to be seen (probably hiding under their beds), the whales are out there doing what they do best—hoarding like it’s Black Friday at a crypto sale. 🐳 And of course, rate cuts are looming like your landlord when rent's due, which in crypto-speak means bearish first, bullish later. It's like being told your rollercoaster ride is delayed but, hey, there's a free ice cream at the end! 🎢🍦
Meanwhile, Gold is out there flexing at an all-time high, giving Bitcoin the cold shoulder like it's a high school crush that just found a new date to the prom. And Bitcoin dominance? Still strutting its stuff, leaving altcoins to suffer in silence.
Over in the ETH/BTC corner, things are looking as bearish as my last attempt at a diet—good intentions, but no follow-through.
Good News? Who Cares!: Good news hits the market and... nothing happens. At this point, it’s like shouting into the void: “BTC ETF occurred! ETH ETF occurred! Halving occurred!” And the market’s like, “Meh.”
🇺🇸 All eyes are on the US Presidency coming up in 2 months. Until then, it's like waiting for your blind date to arrive—highly uncertain and probably not going to end well.
Yet, here I am, my degenerate self, telling you this might just be the perfect recipe for a great bull market! 🍲
But let's be real—experience tell me that caution is advised.
That's it, that's the idea - Good night
And what's this? A Death Cross? Sounds like a rejected name for a 90s metal band, but here it is, grimly reminding us that sentiment is shifting faster than a squirrel on a sugar rush. 🐿️
Now, while retail investors are nowhere to be seen (probably hiding under their beds), the whales are out there doing what they do best—hoarding like it’s Black Friday at a crypto sale. 🐳 And of course, rate cuts are looming like your landlord when rent's due, which in crypto-speak means bearish first, bullish later. It's like being told your rollercoaster ride is delayed but, hey, there's a free ice cream at the end! 🎢🍦
Meanwhile, Gold is out there flexing at an all-time high, giving Bitcoin the cold shoulder like it's a high school crush that just found a new date to the prom. And Bitcoin dominance? Still strutting its stuff, leaving altcoins to suffer in silence.
Over in the ETH/BTC corner, things are looking as bearish as my last attempt at a diet—good intentions, but no follow-through.
Good News? Who Cares!: Good news hits the market and... nothing happens. At this point, it’s like shouting into the void: “BTC ETF occurred! ETH ETF occurred! Halving occurred!” And the market’s like, “Meh.”
🇺🇸 All eyes are on the US Presidency coming up in 2 months. Until then, it's like waiting for your blind date to arrive—highly uncertain and probably not going to end well.
Yet, here I am, my degenerate self, telling you this might just be the perfect recipe for a great bull market! 🍲
But let's be real—experience tell me that caution is advised.
That's it, that's the idea - Good night
Note
In conclusion, to address the elephant in the room 🐘
Is it over for this cycle? Short answer is no, the circus isn’t packing up just yet.
By Q4, things should look a lot better (thanks to the October-to-March effect), but until then, you might lose your sanity, your sleep, and possibly your last shred of hope along the way. 💸
Note
If this higher low at 52.6K holds as a higher low and we start trading up, expect Fireworks ! see you soon for an update !
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.