Price is below the cloud, Price ripped straight through 2 support levels without retracing. I am looking at 7.8k levels next. And then if that fails final hope for bulls would be that 6.8k holds.
I made a case for bears here -
Where i predicted the possible fall of btc from 10k levels.
The stock markets crashing is NOT GOOD for bitcoin.
S&p 500 and bitcoin is positively correlated!
Hence if stocks are falling btc is likely to fall as well! Bitcoin has not proven itself as a safe haven asset yet like gold!
I made a case for bears here -
Where i predicted the possible fall of btc from 10k levels.
The stock markets crashing is NOT GOOD for bitcoin.
S&p 500 and bitcoin is positively correlated!
Hence if stocks are falling btc is likely to fall as well! Bitcoin has not proven itself as a safe haven asset yet like gold!