Hello investors, I would like to share my perspective on Bitcoin for the next few days and explain why I am betting on a drop.
Bitcoin recently made 2 bulltraps at the important $100,000 level and it seems to be forming a head and shoulders pattern on a daily basis.
I believe that this movement has the possibility of correcting to around $70,000 due to the existence of a very important support, the convergence with the Fibbonatti levels at this level and the break of the trend line in the RSI.
Reasons for selling:
1 - Formation of a head and shoulders pattern.
2 - Two bulltraps at the $100,000 level.
3 - Break of the trend line in the RSI.
Target at the next important support.
Bitcoin recently made 2 bulltraps at the important $100,000 level and it seems to be forming a head and shoulders pattern on a daily basis.
I believe that this movement has the possibility of correcting to around $70,000 due to the existence of a very important support, the convergence with the Fibbonatti levels at this level and the break of the trend line in the RSI.
Reasons for selling:
1 - Formation of a head and shoulders pattern.
2 - Two bulltraps at the $100,000 level.
3 - Break of the trend line in the RSI.
Target at the next important support.
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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.
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.