While we all thought bitcoins new investor base would hold us above the 40k support, it broke.
Why?
The fairy dust has cleared and the fomo buyers from last year thought “stonks and crypto only go up”? Well they are all liquidated now and will be deleting there apps.
What’s next?
Taking a look back at the WEEKLY, this is the 60% dump Bitcoin commonly does....
The crypto and equities market have been hit with some spooky catalysts and risk assets (tech & crypto) are having trouble holding support. I'M ALL FOR IT!!
While it's important to know where we came from, markets move and you'll need to pivot along the way. LET'S DIVE IN.
38.5K - 40K (GREY ZONE) - ENTER LONG
40K - 43K (PURPLE ZONE) - BUYER CONFIDENCE, ADD ON...
Some visual TA on Bitcoin
Bullish divergence on 1D chart - candles going down while RSI is going up.
Bullish reversal soon.
Stay nice, this is not financial advice.
mrnicegvy
