BTC is struggling to hold 200W sma and there's just no one buying the asks even if the orderbook has been cleared. Any 4h close below 22000 will see a test of 20700 lows and 19300 and if that fails, next up is
16100 13800
Can't predict price action but If I had to guess, it's fairly probable that the bottom will be put in in the 11400 to 12000 range, and then ping back to 20-22k.
10-13k levels are needed to bounce back and even higher but it ll take time. Maybe after another halving it can reach 50k+
jdo85
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@kevinramige lol how u can even come up with this, did you suck it out of your thumb ? nobody knows maybe in 4 months 50k+ maybe never again.. maybe we dump to 7k maybe this is the bottom maybe maybe nonsense
konosmgr
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@jdo85, Can't predict the bottom but you can see where the wind is blowing, ive been calling for 19k btc since january due to worsening macro conditions. If there's bad news* tomorrow with the fomc event we could very well see below 19k and a cascading liquidation event and margin calls especially in the defi sector which will lead in further selling which will in hindsight be branded as a black swan event.
I wish I didn't micro manage my shorts and the swap into longs down here only to get stopped out, should have waited for at least an uptrend on the 1h. Back into shorts again but I would never guess these bounces would be so anemic. Also this lack of volatility and orderly selling suggests the bottom is further south.