BITCOIN NEEDS SOME PAIN - MACRO BULL - ROAD TO 285K!!
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Its been about 530 days of nothing but net
We've rode the ETF bull all the way to ATH
Now we've had 'The Halving' - Which has no immediate effect on the price, only lots of Crypto-Twitter waffle and sh~tcoin influencers on YouTube posting vids with their mouths wide open on the thumbnail
Coinbase makes a little commercial advertising 'The Halvening' ... Call me a cynic but that screams bear to me
It looks a bit toppy on the mid timeframes W top or triple top however you see it
I am scenario casting a 30% - 40% bitcoin puke, wicking the price down to either 50k or 42k, which is great news, because not only is it some cheap crypto, it will have created a Macro iH&S pattern with a target of 285k
Ideally you want the right shoulder to be much more shallow than the left, so a -30% visit to a nice round number like 50k would make such a pattern
Remember the trend is your friend - Until its not
Nota
54k today, Mt Gox selling? More pain to come
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