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.
Comment:
rip
Comment:
rip