Bitcoin. To sum this up,
Updated
In my opinion, one of these scenarios are primed to play out.
1 & 2.
1] (White fractal) suggests that this correction will end around 24K
Macro market structure would still be intact and it would still look like a typical correction that Btc goes through every bull cycle, however of a greater magnitude.
This would mark the bottom and we should head higher with good amount of consolidation.
>33k would be a early long trigger signifying its out of the "woods"
A "Zhupercycle" if you will.
2] (Red fractal), If Btc pierces through 20k fiercely, that would lead to a break in the market structure and would be a bearish confirmation for me personally.
Will look for exits around 28k then.
A full blown bear would take us to even
12K-14k. Not praying for this in particular.
If any of the above scenario(or both) is to be invalidated, Btc is required to sustain above 33k.
Whichever way you plan to play this, think it through well, and more importantly, survive.
Godspeed.
1 & 2.
1] (White fractal) suggests that this correction will end around 24K
Macro market structure would still be intact and it would still look like a typical correction that Btc goes through every bull cycle, however of a greater magnitude.
This would mark the bottom and we should head higher with good amount of consolidation.
>33k would be a early long trigger signifying its out of the "woods"
A "Zhupercycle" if you will.
2] (Red fractal), If Btc pierces through 20k fiercely, that would lead to a break in the market structure and would be a bearish confirmation for me personally.
Will look for exits around 28k then.
A full blown bear would take us to even
12K-14k. Not praying for this in particular.If any of the above scenario(or both) is to be invalidated, Btc is required to sustain above 33k.
Whichever way you plan to play this, think it through well, and more importantly, survive.
Godspeed.
Note
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