BTC - Longterm macro targets (aiming for new higher low on maro)
Always a good opportunity for a bounce at the 1.13 region ($24,472) level. Could have another bulltrap up to 38k or so before continuing on down.
19.6k is another major level of support to watch for and then down to 16-17k region for 78.6% retrace and new higher low (on macro level).
Take it one area at a time. 24/25k only becomes relevant if we break down below 30k support. The measured move from that H&S is confluent with the 1.13 (24/25k region.
If that level breaks, then we start looking at 20/19k area and below to 16/17k.
At best we continue grinding sideways and down slowly, freaking people out for months and consolidating/lowering volatility. None of this is going to be straight down or happen overnight. If these lower levels become relevant we are looking at $800 Ethereum, up to .40-.50 cent ADA.
Overall analysis, just to be patient right now. You're welcome to do small DCA strategies or continue doing them, but I personally feel no hurry to enter into any positions until we start seeing a good turnaround of the current downtrend at value areas (either round out the bottom near 30k, or down to that 24k region....follow by the 20k and below area).
19.6k is another major level of support to watch for and then down to 16-17k region for 78.6% retrace and new higher low (on macro level).
Take it one area at a time. 24/25k only becomes relevant if we break down below 30k support. The measured move from that H&S is confluent with the 1.13 (24/25k region.
If that level breaks, then we start looking at 20/19k area and below to 16/17k.
At best we continue grinding sideways and down slowly, freaking people out for months and consolidating/lowering volatility. None of this is going to be straight down or happen overnight. If these lower levels become relevant we are looking at $800 Ethereum, up to .40-.50 cent ADA.
Overall analysis, just to be patient right now. You're welcome to do small DCA strategies or continue doing them, but I personally feel no hurry to enter into any positions until we start seeing a good turnaround of the current downtrend at value areas (either round out the bottom near 30k, or down to that 24k region....follow by the 20k and below area).