Prepare for more DOWNSIDE!!
As stated previously…
A bull run is unlikely, as far as TA is concerned.
Broken rising expanding channel puts the target into low 20’s. In reality we could see lower then that in the mid-long term. That’s not to say that we won’t see a relief bounce soon, but at this moment, there is no relief bounce forecast as the RSI, my holy grail of indicators, simply does not foreshadow one.
At this stage, I’m expecting the rest of 2023 to be rather Bearish, which is a good opportunity to increase ones stack.
It’s only bad news if one is a stubborn bull. If one believes the bear market is over, it would have been the weakest bear market in BTC history, which is possible, but I don’t like to predict such things. I’d rather follow my indicators and be vigilant with the theory of trading that I have learnt and that has served me well.
Targets are grey boxes with the newest targets ranging from 4K upto 23k with the most likely targets being in the low 20’s/ high teens
A bull run is unlikely, as far as TA is concerned.
Broken rising expanding channel puts the target into low 20’s. In reality we could see lower then that in the mid-long term. That’s not to say that we won’t see a relief bounce soon, but at this moment, there is no relief bounce forecast as the RSI, my holy grail of indicators, simply does not foreshadow one.
At this stage, I’m expecting the rest of 2023 to be rather Bearish, which is a good opportunity to increase ones stack.
It’s only bad news if one is a stubborn bull. If one believes the bear market is over, it would have been the weakest bear market in BTC history, which is possible, but I don’t like to predict such things. I’d rather follow my indicators and be vigilant with the theory of trading that I have learnt and that has served me well.
Targets are grey boxes with the newest targets ranging from 4K upto 23k with the most likely targets being in the low 20’s/ high teens
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