Why I think BTC will fall further to $7,500. (ETH will most likely fall with it)
1. Long term support trends 'extension' resides around $7,500
2. Bear flags 1 & 3 ( flagpole #2 and flagpole #4) price estimates consolidate at the long term support trend area around $7,500
3. Elliott Correction Wave C started at the November 2021 peak, and the 5-wave impulse that makes up Wave C consolidates around $7,500.
Some very Large investment funds ( like 3AC and MicroStrategy ) are getting close to a margin call. Any collateralized BTC will be sold and may cause a cascading effect in liquidity pools.
If any large LP with high TVL amounts get effected, we may see a 'bank run' on LPs. This could then effect leveraged traders who then get margin called.
Any ETH locked up with BTC as collateral will get wrecked, further crashing the market, and (of course), people will panic sell during all of this.
...but, maybe all this just never happens and BTC hits $1 million this year?
1. Long term support trends 'extension' resides around $7,500
2. Bear flags 1 & 3 ( flagpole #2 and flagpole #4) price estimates consolidate at the long term support trend area around $7,500
3. Elliott Correction Wave C started at the November 2021 peak, and the 5-wave impulse that makes up Wave C consolidates around $7,500.
Some very Large investment funds ( like 3AC and MicroStrategy ) are getting close to a margin call. Any collateralized BTC will be sold and may cause a cascading effect in liquidity pools.
If any large LP with high TVL amounts get effected, we may see a 'bank run' on LPs. This could then effect leveraged traders who then get margin called.
Any ETH locked up with BTC as collateral will get wrecked, further crashing the market, and (of course), people will panic sell during all of this.
...but, maybe all this just never happens and BTC hits $1 million this year?
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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.