The support line is getting tested for the 5th time
BTC/USD COINBASE:BTCUSD
This time most likely it will give out. We are entering another downleg on the weekly chart. The indicators are no longer oversold there. I wouldn’t be surprised if we see 30k very soon and even break it. Do not touch crypto this year. First of all it is too expensive and the risk reward ratios are not good, second of all we are entering a tightening cycle for all assets. Now is the time to be stock picking beaten down US growth stocks not crypto. If BTC falls sub 20k i might get interested in investing again.
