My thoughts on the #BTC market.
As a HTF trader, my system is flashing a sell.
It's a bittersweet feeling, buying at $20k and 'only' getting a ~4.5x, this cycle has been disappointing to say the least.
This would make the bottom sometime in Q1/Q2 next year, catching a lot of people off-guard.
But who knows what the future holds, I'm simply going to follow my system. This has been lucrative for me in the past and I hope for the future.
Good luck everyone.
How I think this bear market will bottom:
1. Bounce off these lows to the 100W SMA (may sweep lows first)
2. 100W SMA rejection
3. Breakdown to 200W SMA, small bounce then revisit 19k
4. Bounce from 19k sometime around Q3 2022 - Q1 2023
Pinned tweet going exactly to plan.
We are beginning to see early signs of accumulation for next cycle. We may get one more move down but the next twelve months will be surprisingly boring.