Bitcoin's Worst-Case Scenario
Updated
With Bitcoin's ETF approved, and Ethereum's ETF news on the air, almost everyone, including myself, is expecting Bitcoin to go up. I have been updating the Bitcoin upward movement step by step; check out the link below. Now, as an investment/trader, one has to consider the worst-case scenario too: if Bitcoin moves in a wide sideways channel, and currently Bitcoin is at the top of this channel. The first sign for this scenario to happen is Bitcoin breaking the first uptrend line. And the final sign is breaking the second uptrend line.
I myself give very little probability to this scenario. But, who knows? It is better to be ready than sorry. Let's see what happens.
I myself give very little probability to this scenario. But, who knows? It is better to be ready than sorry. Let's see what happens.
Comment
So, the first sign for Bitcoin's worst case scenario played out; breaking the minor uptrend line. If Bitcoin goes down and meet the major uptrend line, which probably will be 50K price level, a lot of fear will be created in the market; which in turn would create sell pressure in the market. Hope this will not occur. Let's see what happens.
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