Bitcoin historical crash analysis and the target of this dump 🐻
Bitcoin plummeted its price over 20% in just one hour today. This is so scary, yet it has been said from a lot of analysists, including me, and totally predictable, right? No Elon effect, No China effect. It has crashed because the market should have.
With that said, this huge dump from nowhere was totally unexpected and we all feel fear. So I made this.
This is a simple historical Bitcoin crash analysis in the past one to two years. You can see how much the price crashed from the very top to the very dip, and its RSI percentage.
From the data, we can vaguely assume the current dump could be worse as RSI 39 on the weekly timeframe, where around (roughly) 28k price zone (or below). Also there are other indicators 28k zone is reasonable dip for this dump, such as volume profile well-traded zone, sma50 support, target zone of the daily timeframe head and shoulders, and the RSI.
As always, the good timing to buy or sell Bitcoin is its bullish divergence/bearish divergence. From the past crash data, a daily timeframe bullish divergence does not necessarily happens before the significant trend reversal. If you saw it this time, it should be the best timing, but 4h divergence also should be considered as a trend reversal signal. Either way, I'm betting at least 28k to 29k is inevitable this time, so probably better not to long before the zone just because you saw a divergence on 1h or 4h.
// This is not a financial advice as always.
With that said, this huge dump from nowhere was totally unexpected and we all feel fear. So I made this.
This is a simple historical Bitcoin crash analysis in the past one to two years. You can see how much the price crashed from the very top to the very dip, and its RSI percentage.
From the data, we can vaguely assume the current dump could be worse as RSI 39 on the weekly timeframe, where around (roughly) 28k price zone (or below). Also there are other indicators 28k zone is reasonable dip for this dump, such as volume profile well-traded zone, sma50 support, target zone of the daily timeframe head and shoulders, and the RSI.
As always, the good timing to buy or sell Bitcoin is its bullish divergence/bearish divergence. From the past crash data, a daily timeframe bullish divergence does not necessarily happens before the significant trend reversal. If you saw it this time, it should be the best timing, but 4h divergence also should be considered as a trend reversal signal. Either way, I'm betting at least 28k to 29k is inevitable this time, so probably better not to long before the zone just because you saw a divergence on 1h or 4h.
// This is not a financial advice as always.