BTC Monthly bearish out look
on the monthly btc looks bearish too me, on every big rally it was overbought, and after a drop every time there is relief rally which is show on the chart with yellow lines, and in red directions indicators should take before another big rally starts
so i think historically we will see lower price soon before we start a big rally
that is what btc is doing now, dont get fooled by whales holding or thats btc is being withdrawn from exchanges, it happened every time at those moments
i didnt circle every time it did that, you can check the chart
target around 27-30k
and of course do your research, this are my thoughts from historical movement of btc, not financial advice
and of course we can have small rises up but in medium run it going to go down
best of luck
and for now i think 46k could be highest it can go if it can not retake 200ma, if it does and stabilizes there it could go to 48 at most i think
so far a lot of btc was bought but nothing is happening, the sell pressure is high and margin trading for longs is low. this whole rally mostly is done by margin trading. and now its not there
so i think historically we will see lower price soon before we start a big rally
that is what btc is doing now, dont get fooled by whales holding or thats btc is being withdrawn from exchanges, it happened every time at those moments
i didnt circle every time it did that, you can check the chart
target around 27-30k
and of course do your research, this are my thoughts from historical movement of btc, not financial advice
and of course we can have small rises up but in medium run it going to go down
best of luck
and for now i think 46k could be highest it can go if it can not retake 200ma, if it does and stabilizes there it could go to 48 at most i think
so far a lot of btc was bought but nothing is happening, the sell pressure is high and margin trading for longs is low. this whole rally mostly is done by margin trading. and now its not there
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