BTC is currently on a dangerous grounds, with the price trading below weekly 200MA. For macro bullish continuation this week has to close above 200MA, otherwise we could see new lower lows and change from bullish macro trend which lasted 10 years to possible multi year bear market. Some alts already went to lower low in macro trend, some are still trading above the last support zone. It's also important to follow other markets and their behavior, global recession already entered on the world's stage, so panic and massive selling pressure will also have a huge impact on crypto markets.
Nobody can predict how BTC will react in recession, but so far crypto markets already capitulated and selling pressure keeps building up, so things does not look good. With the world in lock down and global economy melting down, in next two months we can expect aggressive and volatile price movements. For most of the people fear and panic, but for some life time buying opportunities.
Trade with care
Nobody can predict how BTC will react in recession, but so far crypto markets already capitulated and selling pressure keeps building up, so things does not look good. With the world in lock down and global economy melting down, in next two months we can expect aggressive and volatile price movements. For most of the people fear and panic, but for some life time buying opportunities.
Trade with care
