Various possible scenarios on BTC and key levels to watch in the coming weeks…

I am leaning bearish into the remainder of 2022 (or at least the majority of the year into fall) – i.e. immediate bullish PA will be followed by longer-term selling imo.

• Bear flag / rising wedge pattern (in red) – the lower limit of which is being tested again today as US indices get sold off
• Descending triangle pattern (in white) – currently support is roughly at $35,000-36,000 zone – this support dates back to early 2021
• The mother of all inverse H&S (in blue) – neckline at roughly $30,000

With regards to the bear market timescales and bottom targets (for longer term buy & hold positions, rather than shorts) on the above chart – these are in part derived from macro Price Action and Halvening cycles (see later published idea https://www.tradingview.com/chart/BLX/uhDKsmGv-BTC-meme-curve-chart/).

Also BTC mining costs (25th April 22) were roughly $25k and I expect in the near future that (1) BTC price catches up (or in this case down) to mining costs as it always has done in the past and (2) I expect mining costs to decline further as BTC drops, as it did in late 2018, early 2020, and mid 2021. https://en.macromicro.me/charts/29435/Bitcoin-production-total-cost