On the daily chart, the market has a feeling of a double bottom forming. On the weekly chart, this is the bottom of the bottom. If it breaks, there might be a bloodbath, but the probability is extremely low. It doesn't make sense for all other assets to be rising while Bitcoin alone is falling. A major purge in precious metals could lead to a wave of capital moving in to position in assets that haven't yet surged. Even if it's junk, during times of excessive money printing and devaluation, there will still be a wave of upward movement.
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On the daily chart, the market has a feeling of a double bottom forming. On the weekly chart, this is the bottom of the bottom. If it breaks, there might be a bloodbath, but the probability is extremely low. It doesn't make sense for all other assets to be rising while Bitcoin alone is falling. A major purge in precious metals could lead to a wave of capital moving in to position in assets that haven't yet surged. Even if it's junk, during times of excessive money printing and devaluation, there will still be a wave of upward movement.