Feels like the bleeding is almost done (unless some crazy black swan event happens).
Another test and hold of $40K will set us up to break overhead resistance and begin another push upward. I'm not so perma-bull to call new ATHs anytime soon, as the EW wave count was just obliterated by that punch sub-$52K, but another test of $60,000 range is likely in the coming months.
Always play devil's advocate to yourself and be prepared for a contrarian move, but given MANY indicators (2D MFI, extreme fear, 2 month+ sell-off, dwindling exchange supply, etc), it's very possible green lights ahead.....
Another test and hold of $40K will set us up to break overhead resistance and begin another push upward. I'm not so perma-bull to call new ATHs anytime soon, as the EW wave count was just obliterated by that punch sub-$52K, but another test of $60,000 range is likely in the coming months.
Always play devil's advocate to yourself and be prepared for a contrarian move, but given MANY indicators (2D MFI, extreme fear, 2 month+ sell-off, dwindling exchange supply, etc), it's very possible green lights ahead.....