In summary, the current overall picture of Bitcoin is flashing its most dangerous signal in four years.
The breakdown below the long-term Mega Channel support, combined with a price pattern fractal mimicking the 2022 crash, strongly indicates that the macro bull market has come to an end, marking the inception of a massive new bear market.
The downward price targets are locked in at the $41,000 zone, with the ultimate bottom potentially plunging as deep as $33,500.
Therefore, the optimal strategy at this juncture is to heavily prioritize holding cash, preserve liquidity, and refrain from rushing in to 'catch a falling knife' until the price reaches its true foundational support.
The breakdown below the long-term Mega Channel support, combined with a price pattern fractal mimicking the 2022 crash, strongly indicates that the macro bull market has come to an end, marking the inception of a massive new bear market.
The downward price targets are locked in at the $41,000 zone, with the ultimate bottom potentially plunging as deep as $33,500.
Therefore, the optimal strategy at this juncture is to heavily prioritize holding cash, preserve liquidity, and refrain from rushing in to 'catch a falling knife' until the price reaches its true foundational support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.