This is just one possibility I was thinking about could happen. BTC can form a descending triangle which would break down on denial of the ETF at the end of February. Measuring out the descending triangle that would bring the price down to about the $1800 to $1900 range. Furthermore, I think being in this triangle could give BTC weekly bullish divergence on the RSI which will be a huge buy signal for a strong bounce to be coming in. That's what the weekly RSI could look like.
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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.