BITCOIN: THE END OF AN ERAYou guys know i am THE bear. Neither alste. nor khun, bagofXMR is THE bear :joy:
NYA contentious (thanks to the core dev team and its fanatics) fork will show to the world bitcoin is going to split for third time in 3 months, a grotesque show that will set back bitcoin a couple of years at the very least (from mainstream institutional investors perspective).
Profit taking must happen and the monthly chart shows we reached a top:
A huge hanging man for the september candle
MACD over 900 and starting to slow down and turn down
StochRSI recently crossed bearish and it is over 30 months in the overbought zone
RSI peaked at 95 and it is going down with enough room to dump for a few months before reaching oversold zone.
Weekly chart also looking topish:
Strong RSI bearish divergence
MACD converging with signal potentially crossing bearish soon
MA 5,10 bearish crossover
Daily chart also suggest dip buying lost strength
Volume descending
Failure to break resistance
Stoch RSI bearish crossover
MACD converging probably about to cross bearish
Last but least, 4h chart is a bit doomy too
Rising wedge broke down
Bearish RSI divergence
Bearish MACD divergence
Price breaking 55 EMA, something that usually triggers panic as you can see in the chart (when price trades below 21,34 and 55 EMA's there is a dump following it)
What else do you need? Check related ideas for my bear credentials in bitcoin
