The biggest worry I see on BTC chart is the consistent lower highs, we are constantly failing to break previous highs, all indicators of downwards trend.
The positive out of this is we have formed a descending trend line that is clearly what we need to break in order to get bullish again.
So we all know when to long if price goes up.
For me right now traditional markets with NASDAQ and SPX are flagging badly, COVID is still a huge concern, and this impacts BTC, so I'm not seeing the narratives where BTC gets bullish again.
This is a long downtrend now, its natural for there to be relief, my thinking is a big FUD touch down to 42k and 40k, then we could see a long opportunity and some buying relief.
Also... ALTS look absolutely fucking apocalyptic right now, the amount of projects that are about to get fucking wrecked by BTC dumps...
The positive out of this is we have formed a descending trend line that is clearly what we need to break in order to get bullish again.
So we all know when to long if price goes up.
For me right now traditional markets with NASDAQ and SPX are flagging badly, COVID is still a huge concern, and this impacts BTC, so I'm not seeing the narratives where BTC gets bullish again.
This is a long downtrend now, its natural for there to be relief, my thinking is a big FUD touch down to 42k and 40k, then we could see a long opportunity and some buying relief.
Also... ALTS look absolutely fucking apocalyptic right now, the amount of projects that are about to get fucking wrecked by BTC dumps...
