So to follow up on my last idea, the path followed by Bitcoin was definitely my ''worst case scenario'' option... Go take a look at my previous idea to see what I'm talking about. anyway, the green line describes what I think is the most probable scenario that will happen to bitcoin in the next few months.
BTW. I bought this dip in 3 layers. 56k(20% of my liquidity) , 52k(30%) & 47k(50%). For an average price of 50.3k. I'm all in right now. Will sell most of this bag between 51-55k.
Do you think we'll see a dip into your red box or expect a bounce up from here?
FrederickDupont
⋅
@somebodywhohodls, IDK... Mixed signals. We've broken important supports & the bull market structure is kind of broken... So technically definitely not looking good. However On-chain indicators shows that strong hands, whales & institutions are currently buying & that short term holders are in net realized loss meaning they could have capitulated, diminishing the sell pressure. Also strong liquidity walls at 45k. I expect a relief rally to 52-53k where we have strong resistance. Wouldn't be that surprised to see a retest of the lows around 40-42k though.
somebodywhohodls
⋅
@FrederickDupont, yeah, it's really tough to say. The signals were all there for a big end of the year rally, but I think this got cut off by the Evergrande bankruptcy and stock market drops this month.
My hope is that the market can shake this off and climb to new highs 2022Q1