Important things to note:

Macro environment does not look great.
Fed raised rates 25 bps (not a big deal).
Fed likely will raise 6 more times however market likely priced in rate increases.
Recession will likely follow, should be seen by Sep and reported on at years end.
Commodity prices are flying.
BTC supply low, demand is increasing.
Volume increasing.
Price has been squeezing and I likely see the price meeting the year open one way or another.
Alts likely to follow price increase, however, this may be short lived.

Hey everyone! So things are not looking bad for BTC in general, however the macro environment looks terrible. I do not necessarily think this is a bad thing for BTC though. I believe through this next year or so BTC will have its chance to show its worth as a hard storage of wealth. Right now the price has been squeezing for awhile. I figured BTC would have made its move by now, but we are still waiting for the big jump to the year open. I see two scenarios playing out here: 1 – price will fall and test trendline followed by a run to the year open 2 – price is squeezed immediately to year open. I believe the latter is most likely. There is a lot of things playing out at the moment and it is important to see how the price reacts to the year open range. Otherwise, we might see a lower high and more damage for the coming months. Right now, I am carefully hopeful short term and extremely confident longer term (until 2023). BTC is looking great from a supply side, however the demand needs to be higher. I think these uncertain times may play in the favor of BTC . Gold is set to make a push higher in the coming years and I believe BTC will follow in a big way. With a recession on the horizon, it is tough to guess how altcoins will perform during these times, however being conservative is always the best bet. BTC will be fine in my opinion. Thanks again everyone!

So tell me what you think?

Not financial advice. Do your own research.