Bitcoin blew right through $48k down to the diagonal support line, right back into the horizontal range
Expectation: Close Weekly @ $48.3k
Week 1, 2022 will quickly present indication of continued bearish breakdown or the beginning of a rally
Massive Head & Shoulders pattern in play and if BTC doesn't get above $52k quickly, then very high probability of bear market drop in January/early Feb
Without a major catalyst (Bitcoin Spot ETF), probability of BTC dominance slipping below 40% and sell pressure will continue.
Expectation: Close Weekly @ $48.3k
Week 1, 2022 will quickly present indication of continued bearish breakdown or the beginning of a rally
Massive Head & Shoulders pattern in play and if BTC doesn't get above $52k quickly, then very high probability of bear market drop in January/early Feb
Without a major catalyst (Bitcoin Spot ETF), probability of BTC dominance slipping below 40% and sell pressure will continue.
