imho we would see 10k at best
6k is even possible.
I give importance to HTF chart patterns. As you see it broke down very decisively.
I dont believe there is anything to doubt for now.
invalidation is monthly candle closing above 70k. Apart from that we are in bear market.
BITSTAMP:BTCUSD
Hello fellow traders.
This is Bitcoin Monthly Chart
One thing I notice about bitcoin is Although all the crypto, metaverse and defi hype, all new ATH waves push less than previous one.
Evey new Macro leg is smaller and weaker.
This could be a sign of weakness. This is monthly chart so a bearish scenario playing would mean years of bear...
As index broke down this base. I expect continuation to downwards.
Also Technical ratings indicator signalled "sell" on weekly timeframe for the first time since april 2020
