Bitcoin Weekly - Long term holders pre-capitulation scenario
Update on my last chart
We are reaching the beggining of the pre-halvening period. Bitcoin is in a very bad situation. Never entered halvening ina a bearish scenario and never actually encountered a global crisis.
Predictions are bitcoin will bounce from the 3 last horizontal supports i market in green. It tested the all time wedge already two times in less than seven days and the third time is in 90% of the cases the price drops below.
Any rebound attempt to regain at least the weekly 200 ma got sold hard which means exchanges and big holders are unloading preparing for the worst.
After bitcoin loses 1900$ is pretty much free fall. Prices from 2000$ to 1$ are possible. Stay in fiat or go short on bounces and prepare extremely low orders to be placed . Prepare your apple baskets.
We are reaching the beggining of the pre-halvening period. Bitcoin is in a very bad situation. Never entered halvening ina a bearish scenario and never actually encountered a global crisis.
Predictions are bitcoin will bounce from the 3 last horizontal supports i market in green. It tested the all time wedge already two times in less than seven days and the third time is in 90% of the cases the price drops below.
Any rebound attempt to regain at least the weekly 200 ma got sold hard which means exchanges and big holders are unloading preparing for the worst.
After bitcoin loses 1900$ is pretty much free fall. Prices from 2000$ to 1$ are possible. Stay in fiat or go short on bounces and prepare extremely low orders to be placed . Prepare your apple baskets.
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