Bitcoin looks to be due for another drop based on simple monthly RSI trend analysis showing another massive bearish divergence. This with the combination of weakness at forward resistance levels makes me believe we will see yet another famous Bitcoin winter dump. Targets for Bitcoin drops after major runups range from 75-85%, so expect a Bitcoin to be worth around $32k at the bottom of the reversal with a possible wick to $18k. This is a casual thing for Bitcoin, so don't be worried about the upcoming discount. Stop-loss will be triggered at the above FIB level (anything above $102K). For now the position of choice is short.
I want to mention there is still a possibility of a slightly higher ATH that would remain in the bearish divergence trend before the big drop (What I was waiting for to post... but this looks like its it).
Good luck on your trades,
Robbby
I want to mention there is still a possibility of a slightly higher ATH that would remain in the bearish divergence trend before the big drop (What I was waiting for to post... but this looks like its it).
Good luck on your trades,
Robbby
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.