Every birth has a birth pain and wicking down to or below 39-40k price area would be healthy and assist a reversal narrative to 100k and possibly above
News: Kazakhstan Internet Blackout Hits Bitcoin (BTC) Mining and Kosovo banning crypto mining (yeah...good luck with that XD)
Technicals:
Super Trend on the daily is bearish and a wick down to 39-40k area
2 Week Super Trend is flat as was the case before the previous run-up
Weekly RSI 30 is not below 50 and reversal occurred previously at this level
Weekly and 2 Week MACD is resetting for momentum to flip
A new false H&S fractal is forming and could conclude. This was the case in July 2021 before the reversal all the way to the new ATH in Nov 2021
78 WEMA has previously acted as support and would correspond to a reversal wick around the expected support price area of 39-40k
2 Week Vortex Indicator has a green cross indicating reversal but could do a false dip for the reversal wick before rebounding
Expected time estimation: My best guess would be a run-up starting anywhere from the beginning of Feb-Mar and ending in late April/early May as was the case for 2021
Happy new year and good luck to everyone in these interesting and exciting times
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Happy to see it drop. Imo it could drop all the way to +-35k USD
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Let's see if we get a slight reversal from the MMs or a further bear flag down
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Price has reached the green support trend line for BTC indicating a potential buy opportunity
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Be cautious and set tight stop loss in case a further drop for double at 30k
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Green trend line hit, let's see if we drop further or wick here hmmm...