Bitcoin Enter Multiyear Bear Phase

With recent failure at $29318, Bitcoin has undergone major invalidation to its macro wave pattern. Seemingly invalidating its impulsive form, I believe the King of Crypto is due to form a big wedge/diagonal/wyckoff pattern over the next number of years. Considering the ultra aggressive drop cycle we've all witnessed, I believe Bitcoin to also be in yet another more micro version of a diagonal move was well.

With 3 big waves stretching down from $68K > $28K, we could see a sizeable return to the range of $50-$55K as a Wave 2 correction.
Denial at this level would prove as confirmation (imo) to the yearslong downside cycle.

I guess its time to see how Alt Season really operates.
Also interested to see how this affects Bitcoin's dominance on the market.

Giao dịch đang hoạt động:

last leg down in Wave 1 pending --

Bình luận:

Bitcoin has more pump and a dump towards $23K in store before this macro pattern kicks into gear.

Bình luận:

Đã hủy lệnh:

portions of this macro perspective are incorrect based on reassessment.

will regenerate long term ideas.
see DSTC for more timely updates.

Bình luận:

multi year bear not ready.