Seemed inevitable, always trade charts, not emotions...
"head and shoulders impossible! On chain data this, on chain data that! Whales are accumulating, new ATH closer than ever!!"
Ladies and gentlemen, the charts have been screaming short for weeks on end now. With very little buying pressure, the bears have been able to keep the trend of lower highs, and lower lows on the daily RSI in tact. Bitcoin will seemingly continue this trend until finding a new bottom on the RSI, which I believe will correlate to a price point in the range of $17k-$23k. My personal bias is that it will be closer to the ladder price of the range shared with you.
As always, this is not financial advice - merely just my view on the charts, and how people are reacting to the market. Trade safely, and let me know any comments or perspectives you have on what has been covered here today.
Thank you!
Ladies and gentlemen, the charts have been screaming short for weeks on end now. With very little buying pressure, the bears have been able to keep the trend of lower highs, and lower lows on the daily RSI in tact. Bitcoin will seemingly continue this trend until finding a new bottom on the RSI, which I believe will correlate to a price point in the range of $17k-$23k. My personal bias is that it will be closer to the ladder price of the range shared with you.
As always, this is not financial advice - merely just my view on the charts, and how people are reacting to the market. Trade safely, and let me know any comments or perspectives you have on what has been covered here today.
Thank you!