BTC has made it's decision to test the lows. We will see fear and panic in the market. The fake Russian invasion into Ukraine plus the FED emergency meeting on Monday is more than enough to do this in the coming days. The hot inflation numbers caused an initial dump in btc and then a suprisingly fast, spring like recovery that soon after faded. That fade was enough for me to see a clearer bearish picture as BTC has yet to prove it is anything more than a high risk asset. Will it prove to be a hedge against inflation eventually? IDK. I expect these targets to be reached and then the we begin the next part of this larger bull cycle for crypto.
Trade active:
Although we have rallied from the lows this could be serious bull trap territory. I will consider this idea valid until 45k-46k is breached. I still think we test the lows around 36k
Comment:
And there you we have it. Dumped breaking the wannabe support line. Maybe we see the price toy at the support line but i believe ultimately we have more room tot the downside where we can find a good entry
Trade closed: target reached:
My hunch is this is as low as it goes. GL
Comment:
Of course it went lower a little past my second whale zone. Scary times at those levels even when the TA says it could happen.
