Yes, we are only in the middle of a fall that will continue for a decent amount of time. To be honest, I think that even a potential halving in 2024 is unlikely to help BTC this time. In 2023 there will be a continuation of the current recession and the key rate will be high throughout the year. Moreover, we may have a new lockdown in China, which could cause even more problems. But, the main problem for crypto is the situation with FTX. Given the further decline of all cryptocurrencies, there will be a chain reaction of bankruptcies throughout the industry. So I wouldn't be surprised if this crypto bear market lasts more than 2-3 years. All things considered, I would definitely expect bitcoin below 10K next year and a very long recovery for several years after that. I already have a short position in BTC and ETH, but I think that even now it's not too late to enter a short. As for specific trades, which can still bring good profit within six months or so, I would short BTC from $16-17K, TP $7-10K, SL $19K. SL is of course very decent, but you can wait for a better short entry @ $17-18K (although it’s not a fact that we will get there).
ETH:
TOTAL CRYPTO CAP:
ETH:
TOTAL CRYPTO CAP:
