Short

Bitcoin to 3 k !!!!!

I know I sound a little crazy but bear with me. As you can see on the chart above I've filled out a long term path on where the bitcoin price will move and make its bottom. Bitcoin has had a very strong start for an asset that has only been around since 2011. Over the years the buyers have had the upper hand and have been pushing the price up. Now that volume has clearly been trailing off on the long term. With the all time high sitting at 65k, this level has been hit two times. According to popular wave theory this is a sign of weakening in the uptrend. This is further backed up by the bitcoin price making lower lows and lower highs. The price has clearly bounced from the 25 k support I drew on the chart, expectation is that the price will go to around 40 k making a lower high and from there on hit lower lows. To further back this up, the macd on the weekly time frame shows a strong bearish divergence. Furthermore the US 10 year treasury yield is inverting, giving a clear sell signal. As mapped out on both charts when the TNX goes down/up bitcoin follows. I hope ya'll get some wisdom out of this and make some money.

P.S. see ya'll in a few years, hopefully in Dubai :)

wbriki2

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