Bangamen

Hi! Here you see previous bitcoin price action overlayd (blue line) with bitcoin 2020 to 2021 bull market price action. It is quite similar how it fell below bull market support band. Now if the BTC ETF will be approved, that could send price action higher again and we could see after that last leg down and last capitulation before new bull market. Also we have half year green and second half year should be red. This is what previous pre-halving years have been. Lets see how it works out.

Hi! Let see how this scenario plays out but next months is not gonna bring any good news. Best case we see at above 30k sideways action. As you can see on chart, BTC has respected these trendlines for quite some time now. And this bear market has been brutal, because we have 7 weeks in a row red candles. Maybe we can turn this to green end of the week, but macro economics and nasdaq doesn´t seems to support that. So at some point we should see relief rally to 37k at the mid June ( also CME gap at 35,2k ) and then maybe after that we would touch this 200 MA (extended blue line) and then we could finally break this long term downtrend and start slowly next leg up. Falling wedge pattern seems to be played out here. Weekly RSI is on bottom range where historically bear markets have bottomed. Lower blue line is marking bottoms for 2015 and 2018 bear markets and white line is 2020 Covid crash. Whole market situation is choppy still and UST and LUNA story could bring crypto regulations. Perfect time and situation where come out with these regulations about stablecoins and whole crypto market in general. I am not against regulations, but at this time they can come out too harsh regulations. This can also bring more big money in game.Stay strong and dont panic!