$22,000, $800, $0.25

"Celsius has (had) $12BN in customer assets across 1.7 million users". Celsius has now for a few hours suspended withdrawals and deposits and also transfers between accounts.

It has also "transferred $320,000,000 worth of crypto to FTX, before announcing they would halt all trading and withdrawals on the platform". Hmm... I have the feeling we're being played the LUNA 2 episode right now...

Let's blame Celsius for this current BTC crash, shall we!

Or maybe not... I'm not saying what Celsius's done with people's funds is in any way "orthodox" and I also can't say I pity the fools, but the fact might be that with or without the Celsius shitshow, crypto might still be doing the same dance.

image source

BTC is currently valued at $24,134.92 and the fear and greed index is in extreme fear territory showing 11 points out of 100. @whatsup mentioned lately that the lowest she's seen is 8. Well, we're not that far away now, are we?

While almost everyone is blaming Celsius for the current crash in Bitcoin price, Mr. Anderson who called for the top at $69,000 has already for a long time forecasted a correction of about 50%-80% from that top. BTC is now -65.2% since its ATH of seven months ago and we might have not bottomed yet.

Yesterday I commented on @pele23 post that I believe we have not bottomed yet. It's just pure intuition in such a prediction, nothing fancy or TA-related. He said that he believes $27,000 to be the bottom. A few hours later, we're $3,000 down. Does that make me any richer or smarter?

Hell no. I would have been smart enough if pulled my profits out of the market back in May 2021 and also dumped the hell out of that $7,000 UMA airdrop. I kept reinvesting and rode the rollercoaster down the slope, though. I guess I never learn...

According to TA, the 200 WMA for BTC is sitting at around $22,250 and that's where we're heading folks. I refused to see the truth for many many months now, but history has shown us the 200 WMA proving to be "the ultimate support" for long term price action of BTC.

$ETH and most other alts are now in their 11th consecutive red weekly candle and that doesn't mean they'll stop their fall. We thought that that would happen since the 8th red weekly candle. Looks like there's more room to go down and I have some targets for the blood bath bottom.

At some point we will have a reversal, that's for sure, but that doesn't mean we will enter another bull market that soon. We might keep on grinding for a while, after bottoming. Another key point that I want to bring into the discussion is the halving.

I have personally said a few times on my blog, and I publicly admit my naivety on this one, that the halving's impact on BTC's price course is no longer that strong. Well, I was wrong, and maybe 2024, the year of the next Bitcoin halving, might be the turning point out of the bear market for BTC.

Meanwhile, my bottom price targets for BTC, ETH, and HIVE are $22,000, $800, and $0.25, these are the levels where the fun pretty much started from back in 2020-2021. What do you think?

Thanks for your attention,
Adrian