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So 2022 has been a turbulent year for the #Crypto markets including some of the largest scams in history, a record number of rug pulls and thefts, along with 80% downward sell pressure on #Bitcoin alone
So here are my thoughts on how I see the markets unfolding in 2023 .. A 🧵
So here are my thoughts on how I see the markets unfolding in 2023 .. A 🧵
1 - #Bitcoin
So in 2023 I am expecting BTC to begin to form a bottoming pattern at the lower boundaries of the range we currently sit in, along with the volume support around $11,000 - $9,000.
Whether we capitulate or a slow grind down is to be seen
So in 2023 I am expecting BTC to begin to form a bottoming pattern at the lower boundaries of the range we currently sit in, along with the volume support around $11,000 - $9,000.
Whether we capitulate or a slow grind down is to be seen
2. $TOTAL / Total MC
In 2022 we have seen over 2 trillion removed from the #Crypto space. Now this is a good thing to help cleanse the space from bad projects and cash grabs
Now in terms of levels I am keen to look at are
- 590 Billion MC
- 350 Billion MC
20% drop minimum ‼️
In 2022 we have seen over 2 trillion removed from the #Crypto space. Now this is a good thing to help cleanse the space from bad projects and cash grabs
Now in terms of levels I am keen to look at are
- 590 Billion MC
- 350 Billion MC
20% drop minimum ‼️
TA vs FA
Technical Analysis vs Fundamental Analysis
TA works 90% of the times, FA works many times but when FA works, TA takes a backseat
Don’t blindly use TA during times of major economic events & catalysts from other co-related markets
Thread 🧵
Technical Analysis vs Fundamental Analysis
TA works 90% of the times, FA works many times but when FA works, TA takes a backseat
Don’t blindly use TA during times of major economic events & catalysts from other co-related markets
Thread 🧵
It’s wise not to use TA during the black swan events or during uncertain emotional events
Wait for that event to pass & TA will eventually takeover price action
Global stocks are dumping hard with Nasdaq $NQ leading the pack. For now $BTC is closely correlated with #Nasdaq
..3
Wait for that event to pass & TA will eventually takeover price action
Global stocks are dumping hard with Nasdaq $NQ leading the pack. For now $BTC is closely correlated with #Nasdaq
..3
#Bitcoin gave up all the gains and is back below original breakout levels. I won’t apply TA for the day until I see Nasdaq finishing a floor. The dump is brutal and hard.
Next support for NASDAQ is 5% away from current levels. Let’s wait and see if that holds
….4
Next support for NASDAQ is 5% away from current levels. Let’s wait and see if that holds
….4
