Bitcoin will bottom under 10K, remember, Bitcoin never traded during a real recession, so anything is possible.
The_Rational_Investor
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@Ro.goudreau, very much possible. Also Never traded during the time of an energy crisis. Lets not forget it needs a lot of energy for mining and also for maintaining the blockchains. Bitcoin’s performance has been rather lackluster against a backdrop of surging inflation in some of the world’s biggest economies. This shows that the story of Bitcoin being a storage of value during a hyper-inflationary trend is broken. Additionally there will be regulatory factors that will push the price down further.
JoyBoyVegae
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@Ro.goudreau took the word out of my mouth I had the same analysis
GiveMeTheGift
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lol
scrom_indicator
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@GiveMeTheGift nah dude he's right. notice how on the 4 hour frame you can clearly see a speecho pattern, then zoom out to the daily and you can see a clear klonn line dropping into the negative sphere, meaning, if you follow the scrom theory, that the median outliers have all fallen negative and the price action is going to move accordingly. it's all negative when you consider all these factors. good luck and please research scrom theory for it will truly save the world of technical analysis and free us from the institutional control.
GiveMeTheGift
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@scrom_indicator, when everyone is selling - you should buy and vice-versa. The rule for centuries. Keep it simple
The_Rational_Investor
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@GiveMeTheGift, the beauty of any opinion is that they all have an owner and their validity can only be judged post mortem. In my opinion BTC is heading down and there are both fundamental and technical factors which drive my opinion. My observation having traded for over 6 years is that nothing moves in a straight line so we will get pullbacks on its way down. The move from 18k to 22k was such a pullback. Next part of the opinion is that whales trade when it’s on a platue and at low variability but high volumes …. So based on my observations I have posted my views :) in the current situation btc is a short for me. Keeping it simple :)
GiveMeTheGift
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@The_Rational_Investor, everyone wanna buy the dip, but it is impossible. When BTC was ~60k everyone dreamed about 100k...Right now we have 22-24k and everyone dreaming about 12k... People are people...We are at the bottom..Every step down after two steps up. We have 17k-18-19-20-21.. And everyone is currently blinded about the trend reversal..