$BTC #BTC What is next?
At the moment we are in a channel with higher lows each time... Almost all (lower timeframe) charts are looking disgusting now for Bitcoin, but the fact is that we aren't 100% bearish yet TA wise. TA wise I would really get concerned once the 29/30K iron support wall is lost. The reality is that there is a worldwide recession in the making, we already faced some of those like; supply scarcity, war/tensions, extreme inflation,real estate peak, interest rates spiking up etc. .
Last real global recession was in 2008, yes the date when Bitcoin was in the making and got released by Satoshi.
Fundamental wise i'm bearish and can we go lower? Absolutely... those who have survived the 2018/19/20 bear markets will know it for sure.
As long as bitcoin follows the stock market, things are not looking bright. These have increased enormously over the years and a correction is only logical.
My recommendation would be to get prepared for both scenarios. Most important lesson is to have stables aside for the worst case scenario ready, in case it happens like losing the 29K support line. Also always take profits in conditions like these and never ''gamble'' with high leverages... even if it's just 10%.
Happy trading and don't panic (yet?) time will tell...
Last real global recession was in 2008, yes the date when Bitcoin was in the making and got released by Satoshi.
Fundamental wise i'm bearish and can we go lower? Absolutely... those who have survived the 2018/19/20 bear markets will know it for sure.
As long as bitcoin follows the stock market, things are not looking bright. These have increased enormously over the years and a correction is only logical.
My recommendation would be to get prepared for both scenarios. Most important lesson is to have stables aside for the worst case scenario ready, in case it happens like losing the 29K support line. Also always take profits in conditions like these and never ''gamble'' with high leverages... even if it's just 10%.
Happy trading and don't panic (yet?) time will tell...
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