Coming off of a 40k Bitcoin has been quite the ride. Definitely another one of those Bitcoin's dead situations, everyone has been freaking out... "This is the end", "Coinbase is going bankrupt and will take all of your funds"
The FUD is rather entertaining watching everyone run around like a chicken with their head cut off. The bottom line for me is that fundamentals have not changed and this whole experiment is still in early adoption phase.
Bitcoin seems to have a magnet pulling it to 20K and I don't think this downtrend will stop until we at least get near 20K or drop below.
Looking at the 4H time frame I am seeing a rising wedge pattern with indicators that have had the chance to neutralize and prepare for continuation down. It'll be ruff but that's bitcoin's MO, Bitcoin dies and comes back stronger than it was before.
The FUD is rather entertaining watching everyone run around like a chicken with their head cut off. The bottom line for me is that fundamentals have not changed and this whole experiment is still in early adoption phase.
Bitcoin seems to have a magnet pulling it to 20K and I don't think this downtrend will stop until we at least get near 20K or drop below.
Looking at the 4H time frame I am seeing a rising wedge pattern with indicators that have had the chance to neutralize and prepare for continuation down. It'll be ruff but that's bitcoin's MO, Bitcoin dies and comes back stronger than it was before.
Trade active:
Broke support