looking at Bitcoin here, and it really does look like a market to stay away from, its in the middle of nowhere here on the monthly chart. its very likely we could see price drop to between 3850-9219.13 before we see any sign of reversal. My personal view is its going to $0.00. There is no risk appetite for investors at the moment,with the fed stopping the easy money. This could be a long term bear market for Stocks (Growth, High Duration and highly indebted).Crypto's and alt coins also not favorable.
This is my personal view and is not investment advice. This journal is purely for my own record keeping.
It will also be no surpize that we could be heading down to 9219 , and then bounce up towards 48000-53000 and then to range between 10 000-48 000 for a very long time.
At the moment USD pairs are setting up very nicely, and JPY pairs is a dog with fleas.
Thanks for your analysis. I do agree that BTC will go well below 10k but its unlikely to go zero given new investors entry prices, institutional holdings etc. Most likely tank and pick up new liquidity sub 10k for a rally in the second halve of 2023