Currently we can observe several bearish signals on Bitcoin:
- a great wave of Wolfe, bearish
- a very clear bearish MACD divergence
- a strong resistance zone around $60K
- a regular increase in institutional short positions (COT report)
- a significant drop in volumes
- a huge bearish RSI divergence in weekly
- a weekly MACD bearish cross
If a sharp decline begins in the next few days, from my point of view there will be a likelihood of a market reversal.
This publication is a trend hypothesis.
- a great wave of Wolfe, bearish
- a very clear bearish MACD divergence
- a strong resistance zone around $60K
- a regular increase in institutional short positions (COT report)
- a significant drop in volumes
- a huge bearish RSI divergence in weekly
- a weekly MACD bearish cross
If a sharp decline begins in the next few days, from my point of view there will be a likelihood of a market reversal.
This publication is a trend hypothesis.
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![[Bitcoin] bear market signals (update)](https://s3.tradingview.com/y/YE2sIlqX_mid.png)
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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.