Bitcoin Monthly

20 giu

This is Bitcoin's monthly chart.
Currently, not the best ever.

➖ Last month closed below November's 2021 peak price.

➖ This month we have a classic in place: First half of the month bullish (long upper shadow on the session), second half of the month bearish.

The potential is clearly negative but the month is not yet over.

The three months sideways period after a new ATH has never been seen before.
So we can open ourselves up to —anything is possible.

➖ It is worrisome the low volume.
➖ It is revealing the lack of participation in the market by new players.

I would like to be bullish but my job is to read the charts...

The chart has a very strong potential for a correction to happen.
The chart shows little room for growth yet it is still a possibility.

👉 We would say 80 percent probability for a correction before a new high, with a 20% a probability to continue forever up; 100K, 150K etc.

👉 While the bullish scenario is less likely based on chart technicals, it is still possible.

Hope can get you broke in this game.

Rather than hoping, prepare for all scenarios...
Set yourself up in a way that you win no matter what happens.

I thank you for reading.

Yours truly,
Alan (Ananda) Santana

Namaste.