Shotokhan

BTC aims for the worst

BINANCE:BTCUSDT   Bitcoin / TetherUS
At this point I think my worst case scenario will happen and I'd be happy if it happened quickly as I'm sick of watching this slow decline. In a previous TA I stated that worst case scenario would have been 40-41K (current 1 Fib retracement line), I think we're slowly heading there although there could be an intermediate stop around 42.7k and 43k which is the trendline over which BTC has been moving for the last year.

VLPR (not shown here) shows transactions at current price level so it's unlikely this price decline will stop all of a sudded, we need to hit a significative price (maybe 40k) or the major trendline. Indicators show the first signs of a bullish DIV, here I show you only two of different I've used but again, for its effects to take place it'll take time and until that happen I think at this point we'll hit those support I've written about above.

If you DCA alts and BTC you'll be fine, especially if you still have money to buy, if you finished your fiat (like myself) you'll be fine as well. If you have bags since the start of the dump you'll have to wait a while before reaching previous price levels, probably at least months.

Good luck

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