Hi all, this is a minimalist chart using only basic indicators. Let me explain why I'm bearish:
- Global context: There is no reason to remain bullish for the upcoming months, the global political and financial states keep on showing weaknesses and bearish tendances. War, inflation, COVID... I don't see any macro positive point. The current situation in Ukraine makes it more uncertain for the months to come and many specialists agree to say the direct consequences across the rest of Europe and other parts of the world will be visible during summer and autumn.
- Crypto context: Well I think LUNA's unprecedented event says enough about the ongoing market state. 2021 was definetely a great year for the crypto ecosystem and besides the money opportunities, there were a lot of positive news for the blockchain technology and crypto adoption. That said, I do believe the market is strongly related to NASDAQ's movements and given the above examples, I don't believe crypto will be a priority if the world has to keep on facing tough situation. If your fridge is empty, your priority is certainly not Doge or BSC latest animal coin. Nor a JPEG of a monkey.
- Chart: I wanted to keep it as minimal as possible. Here, I'm only using key support and resistance levels. Fibonacci levels help aswell to get an idea of where it can possibly bounce back. 0.382 and 0.618 levels seem to be key levels for me. MACD is bearish, RSI too. I don't see any reversal signs for the moment. Maybe we'll have a massive selloff in the next couple of days-weeks to 20-25k, then we'll have a bounce back and then it will slowly but surely go down from there until 2020's levels.
Consider this chart to be cancelled if we manage to break above 40k even though there is no reason for the market to be bullish again given the current international events.
This is not a financial advice, I'm just sharing my thoughts. I wish you all good luck for your upcoming trades Stay safe! :)
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Next target: 20k, as planned :)
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Still holding in the 18-20k range, next stop 14kish :)
Creo que iremos cayendo hasta los 21000 aproximadamente en las próximas semanas, únicamente a parado a tomarse algo.
cryptologyy
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@esejuliete, Exactly what I think yoo. I don't know why everyone else seems to remain bullish in the comments but we'll see!
esejuliete
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@cryptologyy, (recession), financial crisis, logistic crisis, war, petrol, gas,mistrust in crypto, fear, moon....It is not the moment, it will be later, months and months later.