$BTC

As you know, I had been skeptical about the outlook since August, and with the November close I lost my conviction. BTC is below the averages and the weak picture continues. 86K is such an important support that if it stays below it, a bear market begins. At this stage, path no1 is unpleasant but good for the future. I think the BTC chart is starting to resemble a format similar to indices and stocks, and that it is trying to make a retest of the 2021 neckline before a new rally.

Path number two is exciting at first, but it could have disastrous consequences afterward. If it forms an H+S as marked with the arrow, my bottom estimate may prove to be optimistic. In this process, I can’t feel confident unless the second red zone is broken. When the first red zone is broken, I would be cautiously optimistic, but even if the second red zone is broken, I would remain constantly on alert and I use former resistances that have turned into support as stop-loss levels