Hello friends,
The moving averages are officially in bearish posture. The faster the moving average, the lower it is in price. The last time this happened, bitcoin fell 60%. I would say this says we are clearly not in a definite bull market and more likely we are about to enter a longer bearish trend.
The fact we lasted less time in the "last" supposed bear market from the one before it should be a huge question mark in everyone's face. I have been skeptical for a long time, we will see how it all plays out.
Stay safe and don't get rekt :)
Thanks for reading!
-YS
PS this is obviously a monthly perspective. If bitcoin goes to 12k tomorrow, that doesn't change anything so don't spam me with "ur an idiot." just because that happens.
The moving averages are officially in bearish posture. The faster the moving average, the lower it is in price. The last time this happened, bitcoin fell 60%. I would say this says we are clearly not in a definite bull market and more likely we are about to enter a longer bearish trend.
The fact we lasted less time in the "last" supposed bear market from the one before it should be a huge question mark in everyone's face. I have been skeptical for a long time, we will see how it all plays out.
Stay safe and don't get rekt :)
Thanks for reading!
-YS
PS this is obviously a monthly perspective. If bitcoin goes to 12k tomorrow, that doesn't change anything so don't spam me with "ur an idiot." just because that happens.
Note
I am looking to short if it is not clear from the above lol. No intentions to long unless something major happens. Trend is clearly down.Note
short the ponzi from 7300 atm
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.