Bitcoin
For months I have been expecting this decline and providing various targets, with the main one being the 200 day mvg. avg. While it didn’t tag it, it came close enough today to consider it a done deal.
I think there will be some type of bounce, but not a particularly strong or long lasting one. I don’t think the decline is over. The 200 day will likely be broken and that leaves a lot more downside to come. Will have to study the chart and price action for new targets.
RE: BTC, would highly recommend Gareth Solaway’s analysis (daily Verified Investing). His next level of support is around $75k.
Yes 75k is a good next level, but a lot lower than that is likely, even if not all at once.
Cudos to you CM, great call. I think it takes great insight to go against all the calls for BTC to the mood by all the HODLers out there. Hat tip to your great call.
Thanks, Sir Banimal. Appreciate the kind words.