A highly bearish outlook for Bitcoin, predicting a massive drop to $38,000 and eventually below $50,000.
BTC
78,285.2
+0.05%
Technical Analysis: BTC has completed a classic Head & Shoulders pattern, breaking down from its $125K All-Time High down to $60K. It is currently facing heavy resistance at $84K–$86K and an order block at $92K–$96K. Unless it breaks above $86K, the bias remains strictly bearish.
Macro Environment: Global financial markets are flashing recession red flags similar to 2008. UK 30-year bond yields are at 1998 highs, Japan's yields are at all-time highs (threatening a yen carry trade unwind), and US yields are spiking.
Mining Costs: The author believes the real miner breakeven floor is around $45,000, meaning any drop to this level will see a rapid bounce. The master plan is to open short positions during relief rallies.