Possible shooting star reversal on the weekly if the next candle closes lower. We are at overhead resistance and there is bearish divergence on the RSI. Could be the bull trap that brings us back to the bottom of the pattern. If we lose all the support levels, we could test the lows again. BTC is up 100% since the beginning of the year. The appearance of this...
I mapped a bar pattern over the first bottom, then flipped and stretched it to match the possible second bottom with bullish divergence on the RSI. It indicates we can spike up and return to these levels before hitting the 60% target on Aug 8th.
I mapped the bars pattern from the BTC market cycle tops. I projected where the price action might go by inverting the top pattern and then matching it to the current price action by stretching the pattern. It says we will stay around this range until July, then will pull back to 20k by sep/oct, rally Oct/Nov to 25k, pullback dec, 15.5k lows through march 2024....
PIAS is at the bottom of a descending parallel channel. It is at the mid range of three Points of Control. May see a retest of range high where it could get rejected before breaking out. If we lose support, we will bounce at the lowest point of control.
UST.D lost major support trend line and 200MA on the 4hour. When this trends lower, money flows into crypto. When this trends higher, money flows into tether. LONG CRYPTOs on a bearish retest.
Bullish pattern is running out of room. If the bullish pattern breaks to the downside there will be more downside. RSI on one hour has lost support, so price action may also lose support.
BTC will continue lower, losing the trend line support. The RSI has already lost this level, so I'm predicting the price action will lose this level in the near future.
Low volume node above current price action as we broke out of a bearish pattern. Oscillators are high. Could be a bear trap, or maybe another move higher.