Quick bullish scenario to challenge my bearish bias.
- BTC currently retesting broken descending trend line after new ATH
- 1 Month accumulation phase before test of ascending trendline
- Long Entry at $44k. A slip to $44k would put ALTs to support on many of my ALT charts
- This does not align well with my LOG chart but $100k end of April would correspond with a major FIB I have at this point.
Straight up to $100k feels unrealistic but a move up in new year is still very viable. I'm still leaning bearish but always open to a move to the upside if support holds - I won't try enter at $44k but will work with the trend, laddering in entries.
Best, Hard Forky
Bearish scenario
- BTC currently retesting broken descending trend line after new ATH
- 1 Month accumulation phase before test of ascending trendline
- Long Entry at $44k. A slip to $44k would put ALTs to support on many of my ALT charts
- This does not align well with my LOG chart but $100k end of April would correspond with a major FIB I have at this point.
Straight up to $100k feels unrealistic but a move up in new year is still very viable. I'm still leaning bearish but always open to a move to the upside if support holds - I won't try enter at $44k but will work with the trend, laddering in entries.
Best, Hard Forky
Bearish scenario
