The VIX Volatility Index is over $30 and looks to be building momentum. I also read that Uganda is ready to join the war if his real continues to be attacked. We are not so slowly moving toward and into World War 3 which concerns me. Markets don't like this level of of uncertainty. There are also unconfirmed rumors that the US is insolvent. At some point all of this could cause a dramatic and sudden and possibly exclusive move in Bitcoin but nobody wants to catch a falling knife. I think having some right now makes sense. Buying more in the 50K range also makes sense but keeping powder dry for the chance we see a sudden dramatic capitulation drop. There is still the possibility of a dirty bomb or nuke detonating at the hands of Iran, which would terrify the world and worldwide markets. So I continue to remain cautious and likely will see further downside into the 50K range for Bitcoin before we see a bottom.

In this quick study I'm showing how in Prior Cycles Bitcoin has seen additional 40 to 50% drops from where we are now. On this 3-day charge and looking at the crossover of the 50. EMA below the 200. EMA in blue, we've seen previously deeper corrections in the 50% range. So while we could see a recovery balance in March, since we've been down 5 months with Red candles in a row. I still think this is ominous and looks poised to drop lower. My other studies show a drop to at least the $50,000 to $52,000 range where we can see buyers lined up there for a strong bounce, or potentially bottom using "buyer" block signals. Read full study here: https://www.tradingview.com/chart/BTCUSD/qtqasZDm-Bitcoin-3-Day-Death-Cross-Signalling-50-Incoming-Drop

This chart shows that Bitcoin is trying to hold the important $62k level. After 5 straight Red (down) months in a row, a relief rally in March is looking more likely. Stay tuned...

We've just issued a 'Sell Alert' in my M3 Trader and Private Client Signal groups. As expected, Bitcoin pushed down to the $75k area previously, and now is breaking down below the 'Sell Block' in Ren here. One of our indicators 'shows' where the concentration of sell orders are. These have been very accurate in showing where will pricess will revers, go up, or continue lower. Fear and Greed is still below 10. With continued war fears, economic fears, and other uncertainties we could see more downside into the $50k - $55k range before a bounce. Feels like a Bear Market is here!

This weekly chart of the total mark cap is extremely Bearish and the measured move on a weekly Bear Flag, puts it right down into the only Buy block on the chart, around $1.83T or 37% lower from here. We could certainly see a small bounce here before that, but I can't guarantee anything. And if this plays out the alt coins will bleed the most. Hopefully everyone has been following my advice to the risk and start getting out of positions. If you're planning to "HODL" then you could be in for a long recovery. While it's no fun taking losses... As I have been trying to teach you, it's better than riding it out all the way down, with an unknown 'bottom' price. For more specific thoughts on what to do now, daily updates via Signal chat, a LIVE weekly class, and members area... Check out my M3 Active Trader group here: www.moonstream.io/M3