#BTCDAILY - 6.DEC.21
MACRO LOOK AT BTC
What a few days!!! We have been dumping now for about 24 days - so if you've made it this far without selling or DCA'ing well then keep it up! Although we will probably have a little further to go. After taking some further time to look at current movement versus previous patterns $40k-$42k is looking more and more like the bottom to me. I think we are going to move into a descending triangle/downward wedge from here.
There is a slim chance of bouncing to $53k from here but SLIM. The support we are on at $46k looks weak.
Currently our Key supports are:
$46k
$40k
$30k
This is not a FUD analysis but a heads up that I think we will drop further to target stronger DCA buys and accumulation.
Things to look out for is key adoption (Amazon, Ebay, Apple), Spot ETF (Grayscale, ARK), national adoption (similar to El Salvador etc.) or even PayPal opening the doors in other markets to turn the tide.
MACRO LOOK AT BTC
What a few days!!! We have been dumping now for about 24 days - so if you've made it this far without selling or DCA'ing well then keep it up! Although we will probably have a little further to go. After taking some further time to look at current movement versus previous patterns $40k-$42k is looking more and more like the bottom to me. I think we are going to move into a descending triangle/downward wedge from here.
There is a slim chance of bouncing to $53k from here but SLIM. The support we are on at $46k looks weak.
Currently our Key supports are:
$46k
$40k
$30k
This is not a FUD analysis but a heads up that I think we will drop further to target stronger DCA buys and accumulation.
Things to look out for is key adoption (Amazon, Ebay, Apple), Spot ETF (Grayscale, ARK), national adoption (similar to El Salvador etc.) or even PayPal opening the doors in other markets to turn the tide.
