BytQuant
Heading south short-term
-Orderbook says we might liquidate the longs down to 38K (Coinbase, Bitfinex), 37K for Binance, Deribit orderbook not reliable... -Volume profile indicates bottom would be 34,5K -Market says < 39K we enter a bear market -EMA 9 crossed EMA 18 weekly 10 days ago and warned in advance of the current downward trend -Graph shows bearish divergence monthly Therefore I see a short-term correction before we can reconsider the trend. Main market threats 2022: -FED wants to increase interest rates to better control inflation. I would tend to say inflation is good for bitcoin... -Risk of new regulations -Risk of an economic crisis in China triggered by defaults on the real estate market (Evergrande) -US Stock market SP 500, Nasdaq overvalued = economic bubble will burst most probably 2022. + risk of an economic crisis in the US since the country could default end of the year