How does this chart make you feel?
For 12 years or more BTC has held this green channel as support. now with 2 monthly closes below an area we previously have only ever wicked below, all I can see now is this channel becoming resistance. so many are expecting a massive bull run in the near future I just don't see it. to think a 12 year support flipped resistance breaks on the first attempt seems unlikely we could run up to 44k before even hitting this resistance so there is ample opportunities to come but long term I'm leaning more bearish targeting 10k and below in fact visible range highest volume is all the way down at 3k now wouldn't that be something a 95% retrace from ATH.
Nothing is certain in crypto and when I think about max pain this is it, especially with the world in crisis, russia in a current war and china on brink of one. food and energy prices soaring for most of the world its looking bleak.
Truth be told I hope I am wrong.
For 12 years or more BTC has held this green channel as support. now with 2 monthly closes below an area we previously have only ever wicked below, all I can see now is this channel becoming resistance. so many are expecting a massive bull run in the near future I just don't see it. to think a 12 year support flipped resistance breaks on the first attempt seems unlikely we could run up to 44k before even hitting this resistance so there is ample opportunities to come but long term I'm leaning more bearish targeting 10k and below in fact visible range highest volume is all the way down at 3k now wouldn't that be something a 95% retrace from ATH.
Nothing is certain in crypto and when I think about max pain this is it, especially with the world in crisis, russia in a current war and china on brink of one. food and energy prices soaring for most of the world its looking bleak.
Truth be told I hope I am wrong.