Will there be a bearish divergence? I think so...
On this four hour chart, You will be able to see the volume dying out, NO volume NO Buyers, No Buyers No BTC Bull Run.
Its possible that if we break out of the previous resistance level of $18,500 we may run up to $20k but large volume will need to come in. Large buyers will not be buying at the top. Its too risky, They will need a greater correction and clearer buy signals.
My theory is that we are in an upward wedge, once we fall out of this wedge it will be a bearish divergence that can last 2-4 months. Ideally this is the best thing that can happen to bitcoin.
My other theory is that bitcoin will soar up to prices that are unreal, 100k per coin maybe in the next 6-12 months and its important for it to get to these levels as soon as possible but not without reasonable pullback's giving an opportunity for new buyers to come in.
On this four hour chart, You will be able to see the volume dying out, NO volume NO Buyers, No Buyers No BTC Bull Run.
Its possible that if we break out of the previous resistance level of $18,500 we may run up to $20k but large volume will need to come in. Large buyers will not be buying at the top. Its too risky, They will need a greater correction and clearer buy signals.
My theory is that we are in an upward wedge, once we fall out of this wedge it will be a bearish divergence that can last 2-4 months. Ideally this is the best thing that can happen to bitcoin.
My other theory is that bitcoin will soar up to prices that are unreal, 100k per coin maybe in the next 6-12 months and its important for it to get to these levels as soon as possible but not without reasonable pullback's giving an opportunity for new buyers to come in.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.