We are in a crypto winter because of FEDs monetary policies.
Not only cryptos but also any other risky assets, such as stock market, is in a steep decline!
So it is expected for BTC to lose more value.
I think BTC will bottom around 28k.
Check out the chart on the left.
There is a red box at the bottom of the chart. Which is around 28k-31k.
For 1.5 year, BTC drops to that levels for a number of times.
Everytime it drops there, there was huge amount of buyers.
I do believe this will be bottom for bitcoin since there was a lot instutional buyers around 31k.
Such as Tesla and Microstrategy.
Also if you look at the chart on the right,
You will see 3 emas.
Red line is 50 week ema which dates backs to 2013.
Green line is 200 week ema which dates back to 2015.
Yellow line is 300 week ema dates back to 2017.
Everytime price breakout below 50 week, 200 ema was tested!
So we are to test around 200 weekly ema which is around 27k.
Similar levels with the red box on the left chart.
If price cant hold the 200w ema, it can also test 300 week ema which is around 21k right now.
This is not highly possible. But still possible!
Follow me for more charts and data!
Thanks.
Not only cryptos but also any other risky assets, such as stock market, is in a steep decline!
So it is expected for BTC to lose more value.
I think BTC will bottom around 28k.
Check out the chart on the left.
There is a red box at the bottom of the chart. Which is around 28k-31k.
For 1.5 year, BTC drops to that levels for a number of times.
Everytime it drops there, there was huge amount of buyers.
I do believe this will be bottom for bitcoin since there was a lot instutional buyers around 31k.
Such as Tesla and Microstrategy.
Also if you look at the chart on the right,
You will see 3 emas.
Red line is 50 week ema which dates backs to 2013.
Green line is 200 week ema which dates back to 2015.
Yellow line is 300 week ema dates back to 2017.
Everytime price breakout below 50 week, 200 ema was tested!
So we are to test around 200 weekly ema which is around 27k.
Similar levels with the red box on the left chart.
If price cant hold the 200w ema, it can also test 300 week ema which is around 21k right now.
This is not highly possible. But still possible!
Follow me for more charts and data!
Thanks.
