Its been about 530 days of nothing but net
We've rode the ETF bull all the way to ATH
Now we've had 'The Halving' - Which has no immediate effect on the price, only lots of Crypto-Twitter waffle and sh~tcoin influencers on YouTube posting vids with their mouths wide open on the thumbnail
Coinbase makes a little commercial advertising 'The Halvening' ... Call me a cynic but that screams bear to me
It looks a bit toppy on the mid timeframes W top or triple top however you see it
I am scenario casting a 30% - 40% bitcoin puke, wicking the price down to either 50k or 42k, which is great news, because not only is it some cheap crypto, it will have created a Macro iH&S pattern with a target of 285k
Ideally you want the right shoulder to be much more shallow than the left, so a -30% visit to a nice round number like 50k would make such a pattern
Remember the trend is your friend - Until its not
Note
54k today, Mt Gox selling? More pain to come
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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.