Bitcoin Price Breaks Key Support Level
The 40K area is pretty much all anyone has talked about on the bitcoin price chart, including myself, so it comes as now surprise that price has pushed below it because that is just the way human nature works ;-)
I will say this, the 38K price point is something I have been keeping my eye on and could act as a saving grace for BTC price.
Things could get ugly otherwise, assuming that the current daily candle does indeed close below 40K.
In this video I point out what I'm looking at....
BTC Price Breaks Key Support
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Well, I'd think that as long as BTC and pretty much the whole cryptomarket behaves as a copycat (a copyscaredycat 😉) of the fiat based markets, the whole 2022 is looking veeery bad. With China entering possibly the worst economic crisis of its history, inflation just beginning to rise worldwide, quantitative easings having become a heroin equivalent for the banking system just before its suicide, and supply chain disruption now converted into a routine, what could really be worse as far as economic perspectives are concerned?
It's time for cryptos - at least the autonomous ones (the genuinely decentralized ones, like BTC, ETH, DGB, XMR,...) - to decouple from that fiat inflated economy of disasters.
Maybe these are all the ingredients for crypto to finally break free on its own path.
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Possibly, yes! Let's contribute to make it a reality 🙃.
Here in El Salvador I usually mention that even if the BTC equivalent in fiat comes down to $5k, we'll not feel it much, cause it's our national currency, and it means that the price of everything will be dipping, from meals to transportation (well, on the bus lines where Lightning Network payments have already been implemented).
Do you think we're heading for a May 2021 price level?
Certainly looks like it
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Damn, bought in too soon. Ah well lol
Your level lowered and you are now a Minnow!
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Head and shoulders. Down to $30,000. I know I've been very bullish lately, but that's what the market looks like doing next.
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yeah, probability leans towards that. You never know, but not looking pretty now.
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