In 2018/2019 BTC fell 48% to 3.2K after it broke the 6K support (see orange line).
Now, after a very similar sideways trading pattern during this bear market, we broke support at 19K.
We expect bitcoin to fall around 48% (similar as in 2019) to 9.5K ... coinciding with a .618 retracement level from HTF low (3K) to HTF high (69K)
RSI FALLING WEDGE
In the mean time a giant falling wedge has been forming in the weekly RSI.
We expect the next Bull-run to start after a confirmed break to the upside out of this wedge.
Now, after a very similar sideways trading pattern during this bear market, we broke support at 19K.
We expect bitcoin to fall around 48% (similar as in 2019) to 9.5K ... coinciding with a .618 retracement level from HTF low (3K) to HTF high (69K)
RSI FALLING WEDGE
In the mean time a giant falling wedge has been forming in the weekly RSI.
We expect the next Bull-run to start after a confirmed break to the upside out of this wedge.
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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.