This is a quick evaluation of the macro, bearish targets in case the downtrend continues violently. This short analysis has been originally published on 9th of May 2022.
Theoretically red triangle could become an accumulation area for the new bull run, with some exceptions for major events like black swan events or sudden mania followed by the right monetary and financial conditions . It's both ascending and descending, which gives it a nice area to be formed theoretically, and it's a daily chart , so I'm highly interested if BTC reaches this area and if it does, will it accumulate there, redistribute or do something else. This chart is mostly made in advance as a macro bearish scenario for the following months and years, which stands besides the bullish one.
Happy trading!
Theoretically red triangle could become an accumulation area for the new bull run, with some exceptions for major events like black swan events or sudden mania followed by the right monetary and financial conditions . It's both ascending and descending, which gives it a nice area to be formed theoretically, and it's a daily chart , so I'm highly interested if BTC reaches this area and if it does, will it accumulate there, redistribute or do something else. This chart is mostly made in advance as a macro bearish scenario for the following months and years, which stands besides the bullish one.
Happy trading!
Stay Tuned & Happy Trading