!!! $BTC LOSING THE SUPPORT TRENDLINE! - CME GAP NEXT? !!!
price action has been shit lately
bitcoin is losing the lower channel of the parallel channel it had been forming since the start of 2021 on the weekly timeframe, which has been a big support in the past weeks
if the breakout is confirmed and we close this 1W candle (only 8 hours to go) below that, I think we might see a bear market for the next few weeks
rsi is about 32 on the 1D timeframe and 38 on the 1W timeframe, which shows us we have a lot of room for a huge fall to the downside
I think the price is going to fill the CME gap @ 26K which I highlighted on the chart, it would be a huge drop, but I think that's what's going to happen since CME gap are almost always filled and this one has been waiting to get filled since December 2020
let me know what you think about this! and drop a like and follow if you enjoyed this idea or you found it helpful!
bitcoin is losing the lower channel of the parallel channel it had been forming since the start of 2021 on the weekly timeframe, which has been a big support in the past weeks
if the breakout is confirmed and we close this 1W candle (only 8 hours to go) below that, I think we might see a bear market for the next few weeks
rsi is about 32 on the 1D timeframe and 38 on the 1W timeframe, which shows us we have a lot of room for a huge fall to the downside
I think the price is going to fill the CME gap @ 26K which I highlighted on the chart, it would be a huge drop, but I think that's what's going to happen since CME gap are almost always filled and this one has been waiting to get filled since December 2020
let me know what you think about this! and drop a like and follow if you enjoyed this idea or you found it helpful!
