Expanding on my Macro chart - BTC could be trending towards a double bottom on the daily/weekly chart.
- For: Follows minor downtrend - 50% drawdown + plenty FUD masking market moves - e.g. Evergrande false narrative
- Counter: Volume during mid spike is limited
In this scenario Target could drop below $37k target to within 4% of previous trough. As we are in an uptrend on the macro I'm inclined to think the $37k area will hold and this still form.
Best, Hard Forky
- For: Follows minor downtrend - 50% drawdown + plenty FUD masking market moves - e.g. Evergrande false narrative
- Counter: Volume during mid spike is limited
In this scenario Target could drop below $37k target to within 4% of previous trough. As we are in an uptrend on the macro I'm inclined to think the $37k area will hold and this still form.
Best, Hard Forky
