The panic I see in #crypto right now is absurd. Say #btc dropped to $15k, that’s $2,500 from its current low. #btc has already fallen $51,500 from its peak, is another $2,500 gonna break you now? This is where life changing wealth is made. Buy the fear sell the greed.
@blackwidowbtc Could chop for a few months but I don’t see this thing going lower than $50k with the amount of people waiting for lower in October. Feels like people waiting for $12k when we were at $15k
#BTC is still in a consolidation but there is support here.. if these levels were to hold it’s likely the bottom may be in this summer NOT the EOY like everyone is waiting for. A continuation to the downside would break this theory.
Weekly Supertrend has moved down on #BTC. If it breaks above it will be the first higher high of the bear and would likely prove to be the beginning of the next run as supertrend would flip bullish for the first time since January 2023.
This is the biggest % fall in a single week for Bitcoin since the collapse of FTX.
The FTX fraud marked the bottom of the bear market in November 2022.
This time? 🤔
An abundance of market bottom narratives now.
1. Saylor Selling / Liquidation Risk
2. AI Crypto Exploit Risk
3. Stock Market Correction Risk
All after 240 days of downtrend and only now these exploits and worries come to the surface.
Just like C19 & just like FTX the market will absorb and enjoy new highs. Market bottom vibes. I think June 2026 will go down in history for the next few years as peak fear and bottoming process.
And now we finally have that bullish divergence setting up on #BTC on the weekly. I’m heavily accumulating at these levels. Could go slightly lower from here but when #BTC is $130k you’ll wish you bought here.
In 2022 I suggested that #BTC MIGHT have to form a bullish divergence before bottoming. That move to $15k came in November. The exact same setup is here again. I think #BTC has either bottomed or is about to with another divergence like 2022. Bottom is now NOT end of year imo.
Everyone is excited right now but it’s important to be poised. SP500 made new highs in 2018 before it made new lows later in the year with Bitcoin. I’d love nothing more than for Bitcoin to rip to new highs but it is a midterm election year and bottoms don’t usually come quick.