Long term log chart trend forecast.
Comment:
I believe the long term bear market is soon to be over, and that we are about to shoot up beyond belief, especially because of the current state of the global economy. I'm expecting strong resistance at roughly 11.2k because crossing there would mean a breakout of the 3 peaks' trendline, but ultimately I believe it will push higher. Obviously, a large downturn would completely eliminate all of this, but when accounting for outside global events, I don't see a reason for it to dump drastically.
Comment:
I now believe we are to see one more dip under the buy line similar to the March 12th dip. The global markets are extremely weak as shown by repeated attempts to print it upwards, and Bitcoin has not shown true strength, repeatedly rejecting 10K, and now, dancing on 9K. I have been in a low leverage short for a while and will maintain this short until I see a damn good reason not to. Cheers.