I'm still long term bullish on Bitcoin, but the recent price rises have been extremely fast and in my opinion over value the asset now.
If you look at the chart (which is based on another chart that was published). You can see a double top forming as well as a flag. Adding in the MACD we have a lower high than we had in late November the last time we touched $1200 as well as a bearish divergence down, negative histogram and the MACD/filter lines crossing (as well as the MACD line going below zero).
The fall might not be as far as I expect, it has never been as long or as deep as I've thought before, but we are definitely going to see some further falls back to $900 before it either goes lower or stabilises around the $900/1000 mark.
If you look at the chart (which is based on another chart that was published). You can see a double top forming as well as a flag. Adding in the MACD we have a lower high than we had in late November the last time we touched $1200 as well as a bearish divergence down, negative histogram and the MACD/filter lines crossing (as well as the MACD line going below zero).
The fall might not be as far as I expect, it has never been as long or as deep as I've thought before, but we are definitely going to see some further falls back to $900 before it either goes lower or stabilises around the $900/1000 mark.