I am hearing institutional and perma-bull voices calling for the bottom is in, we've already seen all the leverage flushed out, etc.
It's one possible scenario, but this does not look like a bottom structure to me. And my gut feeling is there is much more pain ahead in global markets.
If this rising support breaks (it will), it looks to me like BTC is headed for the $14K area before a long, drawn out recovery through 2023.
I'm holding my long term stack and accumulating a cash position to start buying at $15K and below.
Hard times are ahead, but the next bull run will see people truly understanding the need for Bitcoin and clawing for some.
It's one possible scenario, but this does not look like a bottom structure to me. And my gut feeling is there is much more pain ahead in global markets.
If this rising support breaks (it will), it looks to me like BTC is headed for the $14K area before a long, drawn out recovery through 2023.
I'm holding my long term stack and accumulating a cash position to start buying at $15K and below.
Hard times are ahead, but the next bull run will see people truly understanding the need for Bitcoin and clawing for some.