Yesterday several indicators was leaning towards a big move today from yesterday’s post (will link below), but I remained bullish and was too busy to pay attention to the charts. Nothing really stood out. After breaking 7024 and now well below 7k. There is now more downside coming soon.
Targets of now would recommend a retest of 6.5k and if you been following since the double bottom or first break to 6.5k are long term bearish target is that 5.2k range.
Why would it go to 5.2k lower? Well vpvr shows most trading volumes in that area also let’s talk politics.
US election is next year with the halving. I predict we rebound to 7k closer to the halving, but more bleeding as Congress is looking towards election instead of regulation of crypto. Will be another slow year till next fall. Also with price the war between China miners vs western miners since China has the cheapest compared to western miners it wouldn’t be surprise if there’s attack of more sell pressure to eleminate western mining farms to control the network.
So now we will play the bearish side till next year.
Targets of now would recommend a retest of 6.5k and if you been following since the double bottom or first break to 6.5k are long term bearish target is that 5.2k range.
Why would it go to 5.2k lower? Well vpvr shows most trading volumes in that area also let’s talk politics.
US election is next year with the halving. I predict we rebound to 7k closer to the halving, but more bleeding as Congress is looking towards election instead of regulation of crypto. Will be another slow year till next fall. Also with price the war between China miners vs western miners since China has the cheapest compared to western miners it wouldn’t be surprise if there’s attack of more sell pressure to eleminate western mining farms to control the network.
So now we will play the bearish side till next year.
