In my previous analysis I thought BTC would do a slight breakout on the 4hr. But alas, price shot down again and maintained its downward trajectory.
In the daily chart, we maintained the channel line very consistnetly. This very sharp drop on Sep 13th is also due to CPI data coming out to be a +o.1% which inevitably saw the markets tank.
But BTC is in a very interesting position. It is in the range zone that it saw in NOV 2020 before it's explosion. But it's also in the exact same position as the Dec '17 high that eventually preluded the crypto winter. So the 20000 region is very important. BTC has been bullshitting this zone since June which doesn't give me a lof hope.
BTC could very well go down to 15000 or even to the 12000-10000 zone.
Considering we going through a period of very high inflation and markets are tanking, I think it is safe to say that shorting this asset is a safe bet.
In the daily chart, we maintained the channel line very consistnetly. This very sharp drop on Sep 13th is also due to CPI data coming out to be a +o.1% which inevitably saw the markets tank.
But BTC is in a very interesting position. It is in the range zone that it saw in NOV 2020 before it's explosion. But it's also in the exact same position as the Dec '17 high that eventually preluded the crypto winter. So the 20000 region is very important. BTC has been bullshitting this zone since June which doesn't give me a lof hope.
BTC could very well go down to 15000 or even to the 12000-10000 zone.
Considering we going through a period of very high inflation and markets are tanking, I think it is safe to say that shorting this asset is a safe bet.