BTC thread- I’ve been bearish since 50k but now starting to get optimistic. This is my plan. 2 scenarios I’m looking at. I think we are starting to bottom within the nxt 6 wks then take another 4-6 months b4 starting to really move. In 2018 it was very similar to what’s playing
out now imo. If u take a look BBWP was also on the floor which indicated huge volatility coming into the market. We were also hugging a huge key support level of 6k. When we broke it, it flushed everyone out. Same potential thing playing out rn. We are on HUGE KEY level of
Support at 18k w Bbwp again being on the floor and starting to get a rise which means that this move likely sees continuation just like in 2018 for another 4-6 weeks. We’re seeing the same thing happen again. Huge level getting lost causing everyone to panick. The only way I see
This idea being invalidated is if we close a Monthly below 13850. Rsi bottomed at a ready of 29 after many rejections off the trend line. Same thing again happening and we currently at a reading of 32. Im not a big rsi guy so take that w a grain of salt. But long story short I’m
Beginning to get really excited and optimistic. Probable that we continue this down trend for the next few weeks & I will see it as a buying opportunity long as we don’t close a monthly below 13850
My second scenario is this potentially being a prolonged bear market if we do close a monthly below 13850 and likely will go to 6k and take a long time to recoverThis post is based on this twitter thread.