Bitcoin is going to 4k, and I'm tracking three different scenarios. If you're looking for someone to tell you exactly what the markets will do next, I recommend your local fortune teller tea leaves or possibly cursed pig kidney at full moon.
Do you recall the Didi Taihuttu family? The Dutch family used to put all of their assets at risk in order to purchase Bitcoin. For many years, the Taihuttu family had no bank accounts, no houses, and no other personal belongings. What will happen to them now that Bitcoin is in ruins?
Since the fall in the value of cryptocurrency, they have lost assets worth up to US $ 1 million, or approximately, according to CNBC. Since Bitcoin reached its peak value of US $ 69 thousand in November 2021, the Taihuttu family's wealth has continued to dwindle.
Taihuttu, on the other hand, believes Bitcoin's value will rise again. The family also continues to purchase crypto currency.
"I purchase Bitcoin on a daily basis." "The lesson I learned from the previous two cycles is that when the entire world panicked and everyone thought Bitcoin was going to crash, I bought Bitcoin," Didi told CNBC.
Bitcoin simply follows other risks on assets such as Nasdaq stocks, and everyone who talks about sound money and S2f models on Twitter, just look at this and you'll see for yourself.
If we get greed back and risk-on back, all those investors will buy back tech stocks, and then they will buy back Bitcoin too. If we seem to be in for a much deeper drawdown, this will become a half-mass flag on the way for another leg down.
The truth is that no one knows, but new information has come to light and I've changed my mind. Bitcoin had a chance to break out on the upside on the 8th of July, but couldn't do it.
A lot of people wrote on Twitter that price here formed an Adam and Eve pattern, but the price never closed above the high between the bottoms, so it never confirmed the pattern, so delete this one.
The trend for bitcoin remains down, and the bottom day will still be blue because it's not trying to pick the bottom. The world economy seems to be in a little bit of trouble, and bitcoin is following other markets like stocks.
For me, the lower we go, the better probably. I truly see only three scenarios here, and if we break this 18k to 22k range, then this becomes a rectangle bottom, and then the launcher line will turn up, and then I will feel the confidence to enter.
If we break the range on the downside and find support at 12,000 to 12,800 something, I will probably try another gamble entry there, or if we break back into this range and go all the way down to that range bottom.
I would strongly advise against following people on social media who are always bullish, because that is what drives the best engagement on social media.
