This is my bearish bitcoin count. I have a few bullish ones I can post if this get enough likes.
We could get up to 7.8/8k before rolling over for new lows.
I think this fits well with the global markets / situation currently going on
Markets are / have been risk off and btc is a risk asset
I also think this is better overall for the crypto space because it implies we're in a cycle level 2 correction as opposed to 4
I think if bitcoin were to put in a 4th here and then a 5th only to stick retail with bags at 50k to then see it retrace to 15k in just a few short years could kill the idea of retail ever coming back
A deep / long level 2 correction would be much healthier in the long run
Just my opinion though
We could get up to 7.8/8k before rolling over for new lows.
I think this fits well with the global markets / situation currently going on
Markets are / have been risk off and btc is a risk asset
I also think this is better overall for the crypto space because it implies we're in a cycle level 2 correction as opposed to 4
I think if bitcoin were to put in a 4th here and then a 5th only to stick retail with bags at 50k to then see it retrace to 15k in just a few short years could kill the idea of retail ever coming back
A deep / long level 2 correction would be much healthier in the long run
Just my opinion though
