Bitcoin Dead Cat Bounce
This is predictive rather than reactive(safer trading style), but I believe it's good to at least consider possibilities.
This chart suggests a bounce to the 35k-41k USD region in September or October this year. If you're in altcoins, if this chart plays out, their may be one last chance for great profits before a majority of them die in the coming recession.
Macroeconomics are not looking good. Yield curve inverted back in March this year, a warning for a recession in the coming months, which means recession starts either very late this year or in the first half next year.
Inverted yield curve happened only one other time in the history of cryptocurrency which resulted in a bounce from the 2018 bottom to the 0.618 fibonacci retracement level, and months later the covid recession happened.
This chart suggests a bounce to the 35k-41k USD region in September or October this year. If you're in altcoins, if this chart plays out, their may be one last chance for great profits before a majority of them die in the coming recession.
Macroeconomics are not looking good. Yield curve inverted back in March this year, a warning for a recession in the coming months, which means recession starts either very late this year or in the first half next year.
Inverted yield curve happened only one other time in the history of cryptocurrency which resulted in a bounce from the 2018 bottom to the 0.618 fibonacci retracement level, and months later the covid recession happened.
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