Overall i am bearish due to the macro situation. The fed is on drugs and thinks it can control inflation by raising interest rates. It cant. Its pretty much a coincidence that inflation is dropping as its raising interest rates. But other things are happening in the economy as a result and it is slowing down a lot. A slowing economy is bearish for Bitcoin imo.
So here i kept it simple and used ellipses to spot a trend. Basically on the monthly timeframe you can see that BTC has a history of doing what seems to be 75%+ retracees. If this happens again then BTC can go below $20k again. But lets see. Best of luck to all traders. Have a nice day.
So here i kept it simple and used ellipses to spot a trend. Basically on the monthly timeframe you can see that BTC has a history of doing what seems to be 75%+ retracees. If this happens again then BTC can go below $20k again. But lets see. Best of luck to all traders. Have a nice day.