DEALERBTC $BTC #BTC My Thoughts: Feels Like The Top. BLOOD.

In my opinion, price on the daily to lower timeframes has become bearish. This feels like the top of the market. People are very hopeful. Once I get my invalidation I am out. Anyways, to get to the point, in my opinion, if support at $63,000 is lost, continuation lower to $37,000 is likely. Below $37,000 I would expect continuation towards the multiyear support at around $5500, which I've always said is the only price one should buy spot BTC at. If $63,000 support is lost, I would be interested in observing the price action in mid June for some consolidation or other significant move. Also, if support at $63,000 is lost, I will use the strength of the move down to $50,000 in terms of how fast it takes to drop as a metric to guage the strength of the bears. I should also note that I think that if $50,000 is even touched, most altcoins will very likely visit their current yearly lows or lower.

I am in the business of speculation, so I speculate. If my bias for one direction is not working out, I ask the important questions as to why it's not working out, and then do an investigation as to why or why not my bias should shift to the other side.

Yes, I do feel the bears lurking and preparing to shed trader blood. I've been here before. I think it's time to make sure risk is managed and I do not think this is the time to be hopeful.

This trade idea is not financial advice. I am not a financial advisor of any kind.

Thanks for hitting the like button and for following me!