What's going on with Bitcoin📷

Good morning to all my friends. I hope you all doing well. I know every crypto lover watching market very closely, why? Because everywhere lot's of talk going on that BTC will create bottom soon but no one knows exact bottom 😁 and that's the interesting about Bitcoin.

I don't know about others but i am watching monthly candle very closely.

Because there's no much volume between 12k to 16k and that's the problem. I know everyone is waiting for 12k but what about BTC if Bitcoin surprise everyone and pump to 50k😁. Yesterday when i was reading few guys comments about market one guy said this:-

" I hope everyone's fine and well. I am noticing a lot of people are recommending to start buying bitcoin from here. It could be a good strategy if you have money which you can afford to lose. And to be honest if you have patience then obviously some day bitcoin will definitely give you good profits.

My take on this -- The first 6 months of 2023 can be very crucial. There is a strong possibility that recession may hit next year. It seems we are already in unannounced recession but the buying capacity of middle class has not reduced yet like it was reduced in 2008. And when it comes down to an all time low level, that is when we may see the real repercussions.

My point is, when people don't have jobs or money, who will buy bitcoin or any other cryptocurrency. So although it seems highly unlikely that Bitcoin may go down to 4 figures, especially looking at the buy orders in the range of 13000 which I have been thinking for a long time that it could be the bottom, but going by the fact that we are already trading at 16000 and the recession has still not hit yet, there is a possibility that we may see 4 figures.

At the moment there are many theories and predictions suggesting 10k is the bottom, 13k is the bottom, or even 3k is etc etc, nobody can confirm this. TA point of view, there is a good support at 13k, however if there could be another black swann event then we never know.

Overall, personally, I may buy some at 13k bounce, if we see that price and will keep adding at regular intervals like 11k, etc.

If you are really interested in investing then I recommend to buy some GOLD. The safest investment for recession. Might not give huge profits but investing somewhere is better than investing nowhere at the moment as the paper currency definitely going to reduce from its current value once the recession kicks in.

This doesn't means I am discouraging anyone from buying Bitcoin. I am just asking to be careful. Definitely Bitcoin is a great bet for the longer run as it has the potential to give a quick 10x compared to other markets. Probably assigning 20% of your worth to Bitcoin is a good idea, but try to diversify."

I am following this guy from a long time and he is very good at market sentiments. That's why today morning when Bitcoin pumped i sold almost all my holdings and now waiting for bottom. Actually i put buy orders in the area he told. I don't how right he is but i am following, let's hope for the best. Wis me luck guys and make plan for your portfolio.

PS:- Sorry for repost
@abfarhan