Bitcoin ready to drop 30 to 40% down - Massive Rejection

We can clearly see in this analysis that whenever bitcoin has touched this down-slopping red trendline, it has dropped from 30 to 40% on average. Right now, bitcoin is facing massive resistance from this all-time high resistance level trendline as well as from the June lows trendline. Both these point towards, a downward price action in the coming days. December 13-14 will be when we can start to see the downward movement as there will be high volatility with the FOMC meeting. Remember, this is all my own viewpoint and not financial advice.

Bitcoin is due for technical rejection but a less rate hike can send prices upward as well, therefore, suit yourself accordingly. Follow me for more such analysis. Leave a comment below to show what you think of this analysis.