Simple Bitcoin weekly chart, bounce expected.
Did not update the chart since months ago, only added fibbonaci and some potential target at weekly TF. Let's go.
After all the news and dramas, btc is still holding its price at 0.5 fib level(34.4k~). There is past accumulation zone around that area and we can see the MAs are also catching up. If we can hold this level, i expect a bounce in following weeks. In another scenario, price might go lower to around 27k(0.618) since the bear power is still strong. Also to be noted CME institutionals added more shorts around 42k-57k.
Now let's talk aside from technical. Not to mention the market manipulation and the FUDs we are facing, i think we do really have strong tribalism in all over crypto community. We fight each other. Our focus is more to the price and the pump than the real development in crypto/blockchain as a whole. After all, it's not the FUDer that is strong, the truth is most of us only bought the "get rich easy and fast" that made us weak and forgot that decentralization is sweet.
Yes, this kind of time is to test us. Does decentralization is really possible or are we just being delusional?
After all the news and dramas, btc is still holding its price at 0.5 fib level(34.4k~). There is past accumulation zone around that area and we can see the MAs are also catching up. If we can hold this level, i expect a bounce in following weeks. In another scenario, price might go lower to around 27k(0.618) since the bear power is still strong. Also to be noted CME institutionals added more shorts around 42k-57k.
Now let's talk aside from technical. Not to mention the market manipulation and the FUDs we are facing, i think we do really have strong tribalism in all over crypto community. We fight each other. Our focus is more to the price and the pump than the real development in crypto/blockchain as a whole. After all, it's not the FUDer that is strong, the truth is most of us only bought the "get rich easy and fast" that made us weak and forgot that decentralization is sweet.
Yes, this kind of time is to test us. Does decentralization is really possible or are we just being delusional?
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