BTC whale distribution again ?
As bitcoin fails to break higher, I'm getting the same feeling I had a few times this year...
I see a lot of bullish sentiment, fear & greed index is still "greed", CT bulls telling followers this is just a retest before parabolic run.
Clearly same pattern is forming like we saw in Mar-Apr and Aug-Oct: rising wedge with bearish div on RSI.
- If this plays out target is around 51-53k.
- RSI and/or price break above resistance invalidates this idea
Tell me what you think, have a nice day !
ps: don't mind my grammar
I see a lot of bullish sentiment, fear & greed index is still "greed", CT bulls telling followers this is just a retest before parabolic run.
Clearly same pattern is forming like we saw in Mar-Apr and Aug-Oct: rising wedge with bearish div on RSI.
- If this plays out target is around 51-53k.
- RSI and/or price break above resistance invalidates this idea
Tell me what you think, have a nice day !
ps: don't mind my grammar
Note
3 Days later, we lost support around 63k, expecting this to act as resistance now before we take a deeper dive towards 53k.
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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.