@IgorBelykh 21 June 2022 more from that month

For those who thought that the bottom was successfully passed, fun information has arrived. News broke today that ProShares has listed its bitcoin ETF for shortlists. What does this mean for the market? Let's figure it out. First of all, the market looks bad from a technical point of view. We have broken all support levels, including the weekly MA200, and $BTC is currently trading below the psychological level of $22,000. Hedge funds continue to liquidate one by one. The Fear and Greed Index is at its all-time lows, currently at 6 points out of 100. Now, knowing all this, let's take a look at the 2017 bull run final. ATH of $19,600 was only set on December 17, 2017. Remember this date. Some time before, on December 1, 2017, CME announced the launch of Bitcoin futures on December 18, 2017. Immediately after its launch of futures, Bitcoin began to fall to the bottom. It would be logical to assume that a group of traders went LONG right at the HIGH price of this cycle. And they were eliminated. So what is happening now? ProShares announces listing of SHORT BITCOIN ETF. To give permission and opportunity to traders to open short positions on BTC. Quite a logical solution for institutionalists, isn't it? This news can be safely called a bottom signal. However, the dump is not over yet. We still have a weekly average of 200 which is now above the current market and let's be honest - the chances of closing the 1W candle above it are pretty low. This will instead push the market a little lower, but the $14,500-$16,000 area looks solid enough to be the bottom of this bearish cycle. History always repeats itself twice. Let's see how it goes this time