Charts are showing eerie similarities to a BTC Rally which had bulls in a frenzy back in 2018 upon testing of the 200dMA. As we can see from back testing, the 200dMA is a very accurate indicator of bullish vs bearish trends for BTC. Under the given circumstances, RSI is overbought and has printed what seems to be a hidden bearish divergence in the making as rejection from the 200dMA overhead is building. I have reason to believe we will reject here (printing a lower high) and take a trip down to the 200wMA (BTCs strongest known support) before officially breaking out of this downward channel, leading a rally into halving.
Break and support on the 200dMA would invalidate this idea
Break and support on the 200dMA would invalidate this idea
Comment:
Rejected the 200dMA on first touch. Lets see if a retest occurs
Comment:
idea invalidated. Great job bulls!