#Bitcoin = Going Deeper Perhaps = 17.01.2022 $BTC #BTC #crypto #ElliottWave

Those who believe that #BTC will soon reverse and go to ATH should study this monthly chart. I would like to emphasize the following developments in MACD, leaving alone the very bearish candles that is our specialty.

  1. The monthly MACD is 100 points away from crossing the Signal line.
    The MACD Histogram is about to turn negative, possibly in February.
  2. The events of such magnitude happened before in 2018.
  3. After the event in 2018, Bitcoin was moving down for 7 months and it lost ~50% of its value.
  4. If BTC repeats the experience of 2018, it could slowly decline towards ~$21k for 7 months, until September.
  5. This time, though, the magnitude of the event is bigger and the chance that a decline lasts longer is substantial.

While the bullish odds are never zero and all sorts of miracles could happen, the holders of Bitcoin should be aware of such scenario and be prepared for a nerve-wrecking year.

The bigger picture was discussed in the Weekly Analysis and in the video below.

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