Bitcoin bleeding out. Only a matter of time 🐻

Pulling up the Daily chart on Bitcoin.

We're currently crabbing in the 15-17K range that began in November following the FTX crash.

We've since then pushed up towards 17K, with us blasting through 18K last week only to be rejected hard back down below 17K

It was a pretty glorious bull trap and one that most smart money players could've seen from a mile away.

We think a retest back above 17K is entirely possible, especially if we see a scam rally in equities.

However, the HTF chart looks very bearish and we've been given no reason to flip our sentiment to bullish.

If we get a serious leg down in equities and an SP500 touching 3200, then a 10-12K Bitcoin is the next "bottom".

We've been writing on the incoming crash in both equities AND crypto the last several months, both of which have played out.

We won't give ourselves too much credit though because how can anyone be bullish with FED comments and CPI where it's at?

Let's see how we finish 2022.

Eyes Peeled.

-TucciNomics
Chief Overlord, AlgoBuddy