As of now market is really slow... Why?
As the History of BTC shows that market never formed a new high with out retesting its Support or previous Resistance level, as in 2020 market break its Resistance level which was 19,000 and market formed a new high in 2021 which was 68,000 after that market didn't formed a new high until it retested its last support level 19,000. After retesting 19,000 market shows us a new high of 109,000 and since Market has formed a new high it didn't retested its Support level which is 68,000, so According to me history will be repeated here, till market don't retest its previous level which is 68,000 market will be slow and bearish. After that market will perform a new high.
According to RSI there is also a bearish divergences which support my vision.
As the History of BTC shows that market never formed a new high with out retesting its Support or previous Resistance level, as in 2020 market break its Resistance level which was 19,000 and market formed a new high in 2021 which was 68,000 after that market didn't formed a new high until it retested its last support level 19,000. After retesting 19,000 market shows us a new high of 109,000 and since Market has formed a new high it didn't retested its Support level which is 68,000, so According to me history will be repeated here, till market don't retest its previous level which is 68,000 market will be slow and bearish. After that market will perform a new high.
According to RSI there is also a bearish divergences which support my vision.
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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.