Check the above chart. Couple points to consider:
1) The massive falling wedge forming
2) RSI bullish divergence and RSI crossing 50
3) How close the bollinger bands are. Look at the circled red lines, they are copies of themselves. Last time the bands where this close BTC rallied 250%!
4) Market sentiment and fear. Everybody is waiting for lower prices and after the LUNA fiasco the fear in the crypto space is at all time high. (BTC fear and greed hovering around 10-17 for the past month)
5) Wallets like this bitinfocharts.com/bitcoin/address/bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt (Whale accumulation...)
Ciao
1) The massive falling wedge forming
2) RSI bullish divergence and RSI crossing 50
3) How close the bollinger bands are. Look at the circled red lines, they are copies of themselves. Last time the bands where this close BTC rallied 250%!
4) Market sentiment and fear. Everybody is waiting for lower prices and after the LUNA fiasco the fear in the crypto space is at all time high. (BTC fear and greed hovering around 10-17 for the past month)
5) Wallets like this bitinfocharts.com/bitcoin/address/bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt (Whale accumulation...)
Ciao
Note
Might see 23-24k (bottom of wedge, maybe wick not close) before major move up.Note
Capitulation! Pray we do not hit 21000$ and Saylor's margin call doesn't hitNote
Currently sitting at 2017 market top. I think (and this is purely speculation) that the price will sit around this level for a week more maybe, in order to let shorts accumulate and all people sell out of fear, until they get squeezed and we see 20-30% upside in a day
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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.