Zooming out to a HTF 2 Week Chart, considering key indicators relative to the prior cycle bear market "crypto winter" and key S/R levels... it's increasingly apparent that BTC is tied to the broader markets and is neither a hedge against inflation nor a store of value.
Given the relatively short lifespan (less than 2 decades) with Bitcoin existence only demonstrating speculative risk-on behavior during loose monetary conditions with massive QE and stimulus, it's entirely likely that Bitcoin will realize shocking lows while it remains in the descending (blue) channel for some time.
Yes, there will be bear market rallies... these will not indicate a reversal until higher timeframes reflect sustained marking up after a lengthy accumulation period.
Given the relatively short lifespan (less than 2 decades) with Bitcoin existence only demonstrating speculative risk-on behavior during loose monetary conditions with massive QE and stimulus, it's entirely likely that Bitcoin will realize shocking lows while it remains in the descending (blue) channel for some time.
Yes, there will be bear market rallies... these will not indicate a reversal until higher timeframes reflect sustained marking up after a lengthy accumulation period.
