1000k bear market?
With the current overall trend being bearish on this asset, we very well could be in a bearish continuation pattern to the downside to test the .00009-.0001 area. BUT, if we sweep the low and set a higher low, or set a lower low with bullish divergence, we could rocket back up with the BTC halving, UNLESS this is the top. IF this is the top, we can expect a full reset down to as low as that lower target at the .000475 range.
IF none of these lower areas get retested, then this may be a first wave pump and preparing to retrace back up to .0009. This scenario will be invalidated by a break of the lower trend line for the raising wedge pattern.
Bull Market cycle will be invalidated by a break and close below .0009 I think
my main concerns are- bearish divergence on the higher time frames, increasingly bearish price action following the feds rate cut, lack of volume, and the overall state of the economy, the everything bubble.
IF none of these lower areas get retested, then this may be a first wave pump and preparing to retrace back up to .0009. This scenario will be invalidated by a break of the lower trend line for the raising wedge pattern.
Bull Market cycle will be invalidated by a break and close below .0009 I think
my main concerns are- bearish divergence on the higher time frames, increasingly bearish price action following the feds rate cut, lack of volume, and the overall state of the economy, the everything bubble.
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