I originally posted this concept up in late 2021 across various social media networks but decided to get back to publishing ideas on TradingView.
Essentially I believe Bitcoin is undergoing true distribution after its most recent bull market.
I believe we will see one last pump to retest the previous areas of supply at 36-40k (The 19 week MA is a line in the sand I'll be watching with interest) before we ultimately enter the final mark down stage of the market cycle.
I believe this mark down phase will take Bitcoin back to <$12k.
Essentially I believe Bitcoin is undergoing true distribution after its most recent bull market.
I believe we will see one last pump to retest the previous areas of supply at 36-40k (The 19 week MA is a line in the sand I'll be watching with interest) before we ultimately enter the final mark down stage of the market cycle.
I believe this mark down phase will take Bitcoin back to <$12k.