BTCUSD breakdown macro high - waiting for capitulation
BTCUSD is a a pretty big danger zone as it drops towards the 2017 peak.
The resolve of Bitcoin maximalists and dip buyers is about to be tested.
So many say things like "Bitcoin bear market bottoms NEVER go below the previous cycle high!"..... never say never.
BTC will rise again, but it's hard to say how low it may end up going before a bottom is found. "Rules" from previous cycles/trends are about to be broken.
Bag holders from the 2017 peak may soon be in the red again which could lead to them throwing in the towel during the next capitulation event. Below 21k things can get ugly fast. The huge MicroStrategy fund may be forced to dump A LOT of BTC: fortune.com/2022/05/04/michael-saylor-microstrategy-margin-call-bitcoin/
The 100 month MA looks like it could easily be in play.
The resolve of Bitcoin maximalists and dip buyers is about to be tested.
So many say things like "Bitcoin bear market bottoms NEVER go below the previous cycle high!"..... never say never.
BTC will rise again, but it's hard to say how low it may end up going before a bottom is found. "Rules" from previous cycles/trends are about to be broken.
Bag holders from the 2017 peak may soon be in the red again which could lead to them throwing in the towel during the next capitulation event. Below 21k things can get ugly fast. The huge MicroStrategy fund may be forced to dump A LOT of BTC: fortune.com/2022/05/04/michael-saylor-microstrategy-margin-call-bitcoin/
The 100 month MA looks like it could easily be in play.
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