PA for BTC has been stubbornly close to the monthly resistance line. It appears that BTC is running out of steam... for now, that is.
Don't forget that China just recently banned all the crypto transactions. So a new impulse from fearful traders can start to emerge.
What I find intriguing is that China decided to ban all transactions at seemingly the "perfect" time to influence BTC shorts.
As you can see from the graph, there seems to be a connection between RSI and time. And it looks too perfect, as it's lined up with the same trend angles and the distance between the parallelograms which were made. And on top of that, the same general PA movement inside.
Other than that, from the monthly standpoint, there is a very visible ascending wedge, which is known as a bearish pattern. However, I think bitcoin could ping between the wedge a couple of times before ETH siphons its capital.
Don't forget that China just recently banned all the crypto transactions. So a new impulse from fearful traders can start to emerge.
What I find intriguing is that China decided to ban all transactions at seemingly the "perfect" time to influence BTC shorts.
As you can see from the graph, there seems to be a connection between RSI and time. And it looks too perfect, as it's lined up with the same trend angles and the distance between the parallelograms which were made. And on top of that, the same general PA movement inside.
Other than that, from the monthly standpoint, there is a very visible ascending wedge, which is known as a bearish pattern. However, I think bitcoin could ping between the wedge a couple of times before ETH siphons its capital.