BTC has been operating in a long term channel with 2017 channel resistance directly overhead. There is limited upside here and we are likely entering the early stages of the 2022-2023 crypto bear cycle (Crypto Winter) before the next halving cycle in early 2024. Caution is warranted here for Bitcoin longs, potential double top forming.
Comment:
BTC now down 7% from the call. I expect more downside into 2022.