This is my personal long-term analysis of Bitcoin. I'm a very strong believer of crypto assets, however, I still see more downside in BTC to come.
I strongly believe that the current and coming economic decline (US recession, EU decline, Ukraine, China stims....) will push the price of Bitcoin to the 12000 level where we will retest as of yet an untested support (orderblock).
This will cause extreme pain to a lot of people but that is what price usually does in a non-bullish/retail driven market.
This chart also doesn't account for any kind of black swan event such as Covid or WW3. It assumes that the US will officially fall into recession towards the end of summer and that there will be no new military conflict and no escalation of Ukraine.
To support this idea, we can look at
NQ1!
I strongly believe that the current and coming economic decline (US recession, EU decline, Ukraine, China stims....) will push the price of Bitcoin to the 12000 level where we will retest as of yet an untested support (orderblock).
This will cause extreme pain to a lot of people but that is what price usually does in a non-bullish/retail driven market.
This chart also doesn't account for any kind of black swan event such as Covid or WW3. It assumes that the US will officially fall into recession towards the end of summer and that there will be no new military conflict and no escalation of Ukraine.
To support this idea, we can look at
NQ1!
