BTC - Weekly View-mid/long term-Aug 22

BTCUSDT

How does BTC look on the weekly timeframe?
Aug 2022 - Week 4

1. Bear flag validated - with price breaking lower and a candle is being printed
2. Stoch RSI is very indicative - curving from above 78 levels. (coinciding with price trending lower)

Watch Out - Negative:
1. Mt Gox BTC to be distributed to hodlers starting from end of August. some of the holders, stand out to make 80 to 100X return (should they decide to sell). +130K BTC Could be expected to hit the market = potential sell pressure.

Watch Out - Positive
1. Miners capitulation activity seem to have ended for the time being. add the indicator (hash ribbon) - and you will see a blue dot has printed recently. low sell pressure from miners

Personal Take
1. One cannot look at charts in isolation of what is happening overall in global economy. my view is still (bearish) with potential downside on the short to mid term timeframe. things that i believe will influence BTC price:
Mt Gox BTC release
PCE, CPI and FOMC guidance
Energy crisis in EU
Real Estate sector in China (Evergrande and others) - with international debt obligations. the exposure of western investment banks, is critical
worldwide inflation

PS: Im not a financial advisor. I provide analysis on crypto/projects as well as fundamental TA overview.

let me know your thoughts. would love to discuss and have a different perspective :)