BTC - Still Respecting Trend

5 thg 8

We have seen a bloodbath across all markets as recession fears begin to grow bigger. But we trade on data and not emotions and so far this is looking like a buying opportunity more than anything else. Of course this can change depending if we get some sort of black Monday tomorrow and break out of this pattern, but at the current moment BTC is still holding its trend.

https://www.tradingview.com/chart/BTCUSD/Xm1M39Pw-BTC-Still-in-Danger/

Refer to this post when we mentioned BTC was in danger at 68k and laid out a second scenario where BTC could fall to either 48K or 52k. So far we have seen the collapse to the 52K level and are remaining in our same pattern. If things change I will update this, but for the time being this drop was predicted by ViaQuant over a week ago.