WHERE IS THE BITCOIN BOTTOM?? IS IT ALREADY IN??
So the FTX mess really destroyed the potential that crypto had to rally. The DXY broke down as we predicted hitting our third target on Friday, letting the stocks and currencies rally against the dollar.
However, crypto was left out of this rally because of the FTX mess. So where is the next opportunity??
After not holding 19600 and breaking the 18500 support that we held for over a month, BTC looks to head lower and is in the middle of nowhere.
- As long as we're below 18500- 19600 we are bearish until we reach 12200- 13000. THERE IS NOTHING IN BETWEEN, any long from here would be pure gambling and not a profitable strategy in the long run. \
WHAT TO DO?
- Hold on to your money until a trade opportunity arises, which will either be a bullish edge at around 12k or a bearish edge between 18500-19600.
Moreover,
- We have massive support as shown around 12k. We also have the PCZ of a massive bullish sark around 11.2k, where we could wick to should we head to 12k.
However, crypto was left out of this rally because of the FTX mess. So where is the next opportunity??
After not holding 19600 and breaking the 18500 support that we held for over a month, BTC looks to head lower and is in the middle of nowhere.
- As long as we're below 18500- 19600 we are bearish until we reach 12200- 13000. THERE IS NOTHING IN BETWEEN, any long from here would be pure gambling and not a profitable strategy in the long run. \
WHAT TO DO?
- Hold on to your money until a trade opportunity arises, which will either be a bullish edge at around 12k or a bearish edge between 18500-19600.
Moreover,
- We have massive support as shown around 12k. We also have the PCZ of a massive bullish sark around 11.2k, where we could wick to should we head to 12k.
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