Don't be fooled, Bitcoin starting multiyear Bear Mkt. 1-2k
Hey everyone,
Sorry I didn't update this post earlier. If you would like to go on my twitter page a link to my Tube channel is on there where you can see my prediction on why I believed Bitcoin is in a multi year bear market as of Last week.
For those who wish to only read this, it is very simple, we have lost a uptrending channel we had been moving in since 2013. This signifies a trend change and while it may not be straight down we may see a consolidation between 3-6k before breaking down lower and bottoming out soon. Not much to say here but my Twitter page has content updated constantly. The only way we become bullish again is if we regain the channel, but the sell off below the channel (from 8k-4k) is so significant that we have reason to believe this is the beginning of a multiyear bear market.
Bitcoin will go over 50k eventually. Just not yet.
Sorry I didn't update this post earlier. If you would like to go on my twitter page a link to my Tube channel is on there where you can see my prediction on why I believed Bitcoin is in a multi year bear market as of Last week.
For those who wish to only read this, it is very simple, we have lost a uptrending channel we had been moving in since 2013. This signifies a trend change and while it may not be straight down we may see a consolidation between 3-6k before breaking down lower and bottoming out soon. Not much to say here but my Twitter page has content updated constantly. The only way we become bullish again is if we regain the channel, but the sell off below the channel (from 8k-4k) is so significant that we have reason to believe this is the beginning of a multiyear bear market.
Bitcoin will go over 50k eventually. Just not yet.
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.