BTCUSD - The bigger picture
I didn't want to have to post this, but given how weak the bounce has been off the 200 day MA, we should expect more pain.
It seems that everyone is still hopeful about crypto. ( Hence, we are likely headed lower )
Most seem to be in agreement that we are going lower. ( Hence, we could see a significant bounce before heading back down)
I still haven't seen enough capitulation selling volume and the properly shaped hammer candlestick with the long bull wick that I am expecting that would indicate the bottom.
I do believe that 1800 would be the absolute lowest we could go given that it is so close to the prior top.
Hold onto your trousers, folks.
It seems that everyone is still hopeful about crypto. ( Hence, we are likely headed lower )
Most seem to be in agreement that we are going lower. ( Hence, we could see a significant bounce before heading back down)
I still haven't seen enough capitulation selling volume and the properly shaped hammer candlestick with the long bull wick that I am expecting that would indicate the bottom.
I do believe that 1800 would be the absolute lowest we could go given that it is so close to the prior top.
Hold onto your trousers, folks.
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