We are Officially in a Bear Market | 2021-2023 (imo)Since as recent as early 2020 (a little over a year ago), we've seen MASSIVE gains in amounts of 1,000%+
In my opinion, I think it is time for Bitcoin to cool off for 1.5-2 years.
Based off the OBV, RSI, and many other indicators we are seeing clear signs of a potential multi-year bear market.
The OBV (for the first time since the last massive crash in April) had just recently (yesterday: 11/16/21) crossed below its local big support.
The RSI on the daily and weekly time frames are showing clear bearish divergences.
Fundamentally, we are seeing signals from the richest people in the world in regards to a potential hyper inflation scenario + "The Mother of all Crashes" that could potentially occur.
Notably, Elon Musk is currently selling $TSLA stock like a mad man. In my opinion, I think it is pretty clear his social media posts were just an excuse to sell more "to pay his taxes", but really, because he may think we are going into a multi-year bear market, which will save him tens of billions (think about that...)
Ultimately, this is an amazing opportunity for everyone, whether you are broke or you are Elon Musk, to accumulate as much wealth possible before the next bull cycle. In my opnion, I think the next bull cycle will begin in early 2023 and end in late 2025-early 2026.
Good luck everyone and make sure to comment below your thoughts.
If you disagree please let me know why. I am very curious to see why some people may be bullish right now.
Best,
Matthew Park
