Totally accurate $BBC price action chart. I mean BBC sorry I mean BBC I mean...

This is a $BTC price prediction purely based on price action supports and resistances, plus macro.

BTC will bounce in the “Crab” zone for a while until it eventually breakout higher or lower. The catalyst for the breakout could be anything from the Fed, major BTC news or any random whale getting liquidated. Until the high volume subsides, BTC is going to be very volatile.

If BTC went to the “Bearish Capitulation” zone, it’s probably the end for BTC until maybe 2024. The crypto market will be very boring at that point, if not brutal. I think the real capitulation will look like the purple circle shown in the picture above — calm, boring and dead. It’s possible that we could see another rate hike soon, considering that the real interest rate is still deeply negative.

Considering the current macro and the state of BTC, the only stimulus that could revive BTC is the Fed starting QE again, which is possible if the market fails. If Fed restarts the money printer, BTC could bounce to the “Bullish” zone or “Very Bullish” zone depending on the scale of QE or helicopter money.