#Bitcoin: Trend is down in the daily chart

Soon the weekly and monthly can flash a signal, aligning with the 2 month timeframe forecast, for the end of a trend by the end of April 2022, which I had anticipated back in July 2020. The last time we had this pattern was in December 2017, right before a fall from 20k to 3k over the course of 1 year. The monthly trend could turn down, and if so, predicts a move down until September 2022, with targets @ 23k and 13k. We also need to factor the support level @ the start of the 2-Month trend around 9k. It's clear markets topped, and acts like one more risk asset, whenever liquidity suffers, it goes down. Valuations across the board had reached astronomical levels, and essentially, liquidity and money supply weren't enough to support them were investors to take profits in their unrealized gains...

I suggest hedging or buying long dated OTM puts against crypto holdings if you're long, or just going to cash, this is going to hurt.

Best of luck,

Ivan Labrie.

Note

Just detected a typo in the chart, '2 month timeframe is already bearish', not bullish.

Note

Note

Weekly trend active...

Note

Critical to break this line below:

(25% speed line support for the uptrend since COVID lows)

Note

Daily hit the 2nd target range here, time is plenty for more downside so I just hodl my bearish positions.

Note

Clean break...I rolled my puts into a lower strike, had taken profits but bot them back today, earlier.

Note

Relief rally signal, I am long now.

Trade active

Failed to go up, now bearish again:

Note

IvanLabrie

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

IvanLabrie

Also on: