Continuing this long standing analysis on Bitcoin since I first pointed out the danger of an M-Pattern forming:
The Weekly RSI has dropped under 50, which is bearish for the time being (until the RSI gets back above 50). However, this alone does NOT mean we're back in a bearish cycle. Watch the video to see the conditions.
Previously, we were discussing the likelihood of a 20% retracement:
To clarify - I still think it's likely for Bitcoin to see another ATH this year. But, as I pointed out in the fractal, it could be a multi-month playout.
___________________________
BTCUSDT
The Weekly RSI has dropped under 50, which is bearish for the time being (until the RSI gets back above 50). However, this alone does NOT mean we're back in a bearish cycle. Watch the video to see the conditions.
Previously, we were discussing the likelihood of a 20% retracement:
To clarify - I still think it's likely for Bitcoin to see another ATH this year. But, as I pointed out in the fractal, it could be a multi-month playout.
___________________________
BTCUSDT Trade active
-24% reached, and -30% will be exactly on the first support zone.
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discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
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Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
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.