Looks like we'll bounce off the 50ma back into micro downtrend which could complete a double bottom breakout. Although. The traps are getting bigger.
We're either going up or down significantly.
To summarize fundamentals : the US is going to begin tapering bonds (to combat inflation), so institutions will be selling alot of asset's, how much crypto they own. I'm not sure.
On the flip side, inflation could cause most retail investors to move their money into crypto (I don't believe this is the case due to obstacles to invest in crypto and utilizing the software required to procure and manage it).
Thus my conviction being that we have a 40% chance of invalidating BTC head and shoulders pattern, and 60% completing the pattern.
My suggestion is to wait until the macro trend is confirmed.
We're either going up or down significantly.
To summarize fundamentals : the US is going to begin tapering bonds (to combat inflation), so institutions will be selling alot of asset's, how much crypto they own. I'm not sure.
On the flip side, inflation could cause most retail investors to move their money into crypto (I don't believe this is the case due to obstacles to invest in crypto and utilizing the software required to procure and manage it).
Thus my conviction being that we have a 40% chance of invalidating BTC head and shoulders pattern, and 60% completing the pattern.
My suggestion is to wait until the macro trend is confirmed.