Write down in the comments a crypto of your choice, so I can analyze it and post a full detailed analysis about it. I might need few hours if I don't have it already on my list.
I clearly do believe this is a perfect move for banks and institutions, during the crisis in US & of course the geopolitical tension all over the world to sweep any liquidity from the markets during this crash which is just the beginning.
The whole market is crashing, and everyone is investing in crypto which is the most volatile and aggressive market? IMO BTC is just "checking" the waters above and will retest before failure to the bottom support zone.
Whoever bought after the spiked began, IMO is already -40% to -100% and they don't know it yet.
Based on my tiny chart below you can see: R1 - Resistance + Fibonacci RED ration 0.236 of the downtrend. FTZ - Fibonacci Time Zone speculating a reverse or an acceleration.
Just from these two details, you can see we didn't manage to break the downtrend SO FAR.
Price seems to get rejected from the level we were and heading to the lower level at the zone: 93,340 - 95,480 Thats the 0.5 to 0.382 Gold Zone.
If the price doesn't bounce from this level, we are going lower.
Over the period of the next days, we are going to see if the support will be able to sustain the current BTC Price Action.
Even from a previous post I've made, I did mention that it would be difficult to go pass this.
Tell me your thoughts about this at the comments ;)
I'm personally going short this time - maybe I will adjust based on market movement.
P.S If you check the Daily chart you will see a bearish Falling Star that shows rejection and from that day BTC Price Action keeps falling.