I do not like what I see in this chart and I am really wish to be proven wrong by the markets. However, as it stands, it does look like BTC might be on it's way for a major drop in price. I plotted both a TD Projection and a Head & Shoulder pattern on the chart, both figures are hinting at a very strong possibility for a drop in price to less than $20.000. As a strong advocate and believer in this technology and it's social implications I do really wish to be wrong. Please, tell me I am. Thank you.
I think we'll be fine, just an unnatural correction going on now with the Fed rate scare and all the other stuff. Also Jan-July 2021 was one big H&S also but that one broke up :)
antonio-schmidt
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I think it's possible, market already sees some 60%+ correction for the most risky assets. However 200 week ma will be around 20-24k in a few months, probably we have a stop there. I think it needs to take a longer depression on the stock market (6-12 months from now) and more rate hikes for whatever reason to go below that level. In that case I can believe the 12-14k price as well. Trade carefully folks, just because BTC never fall so much it doesn't mean it can't.
alexngbk
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hardcore bitcoin people dont care. Crypto is the place where words like HODL were born