Best chart of all times. Because it's right
This climb might get to 8200-8500 something before e leg
This climb might get to 8200-8500 something before e leg
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Dotted trendline is important
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We have a pending drop on RSI. One more touch to the bottom curve is missing
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This is similar behaviour from the past. I noticed bitcoin repeats this pattern on RSI very often with four main curve touches on every cycle
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Price on daily RSI is overbought. Similar as on the previous big bull run in the past, the correction wasn't big compared to the big move we had but the correction happened and will happen this time too. Pattern RSI is painting right now is pretty much the same. How big the correction be this time is the question. Or bulls gonna go full fireworks due to halving? Time will tell
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To go full bull btc should back above our previous bull trendline it felt off. It's retesting it right now
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REgular Bearish Divergence (red) and hidden bearish divergence (blue) spotted. As I predicted above, correction or crash is gonna happen sooner or later. So far price is getting rejected from major resistance from previous bull trendline it felt off in the past (as shown above on monthly chart). With new bear signals it's even worse looking for bulls
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Also RSI pattern I showed you earlier is still waiting for a fourth touch. This is a scheme price does on RSI regularly
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Bulls hungry for another retest of 10500. RSI divergence won't dissapear from such move. To cancel it price would have to shoot through 11k like a butter and stay above for some time. Very unlikely imo
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Cipher harmonic in the making. Also resistance from previous uptrend fallen trendline. Possible drop after finishing pattern
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My long-term chart
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Here is my current idea of whats going on. I suspect we are doing first wave of five right now. Not sure where this wave gonna end but it might be close to correction for a wave 2.
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Update
The path looks more clearly now. Seems the correction for the 4th wave may not be too deep.
The path looks more clearly now. Seems the correction for the 4th wave may not be too deep.