Bitcoin pullback/crash outlook weekly chart
Various long term indicators to predict that the time for Bitcoin's fall is right about now with some general predictions on where the price will go from here. All considerations were taken from a log view of the chart.
Ethereum gas prices are finally falling as well which coincides with general lack of EUPHORIC interest in the domain of crypto. Reddit posts are very reminiscent of the 2017 bubble. World economy badly damaged by COVID and the traditional markets are being set up for a massive blow which is never good for speculative assets. GME fiasco + Elon Musk may be sparks for increased speed for government regulation.
That said I am still bullish long term and a 100k Bitcoin is inevitable.
edit: whoops I meant to have the 21week MA instead of the 200. Forgot to swap it before publishing the "idea". 21MA crosses over the 50MA where the green arrows are on the chart. Can't figure out how to edit the chart after posting. Oh well.
Ethereum gas prices are finally falling as well which coincides with general lack of EUPHORIC interest in the domain of crypto. Reddit posts are very reminiscent of the 2017 bubble. World economy badly damaged by COVID and the traditional markets are being set up for a massive blow which is never good for speculative assets. GME fiasco + Elon Musk may be sparks for increased speed for government regulation.
That said I am still bullish long term and a 100k Bitcoin is inevitable.
edit: whoops I meant to have the 21week MA instead of the 200. Forgot to swap it before publishing the "idea". 21MA crosses over the 50MA where the green arrows are on the chart. Can't figure out how to edit the chart after posting. Oh well.
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