THINGS COULD GET UGLY-ER!
If bears have their way, things are about to get a lot worse before they get better. I'll say this from experience, never underestimate the crypto market's ability to go down. When I told people people BTC was going to fall from 60k to 30k, they laughed. When I said it was going to 20k and lower, I was told it is impossible. Don't be surprised if you see BTC at 10k or lower in few.
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BTC is still set up for the downside IMO. NFA/DYR.
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Channel is holding up.NFA/DYR
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Channel respected NFA/DYR
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Major rejection on the channel breakout. Lets see what happens with the next daily candle.Note
A different perspective, make of it what you will. A couple of things need to happen before I switch my sentiment to a bull market, see if you can figure out what.
Total marketcap chart
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Current situation Total market cap
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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.