BTC - market remains ruthless

22 ม.ค. 2022

Our Long setup became fatal and we could possibly see more downside pressure as the equity markets are just starting to bleed. I think we can expect stronger support at the lower 30k region. If we fall through there, we could quickly see a dump to the ATH of the previous bull cycle. Omicron is starting to accelerate and other market conditions such as the hikes on the interest rate lead to a strongly bearish outlook. The volume of the current price action is not exorbitantly high which could mean that sellers are exhausting and we are reaching a point where a reversal becomes more probable.

Time to BUIDL and forget about returns for a while.

Good luck with your trades! Do not consider this as financial advice.