BTC to Hell in a Handbasket?
Updated
On 7 Jan 2022, I posted that BTC could be down around 30K by the end of Jan. This prediction is still in play.
Several bearish things have just occurred:
• Diagonal support broken on daily
• Hash ribbon level (~37.3K) broken on daily
• Neckline, either way you look at it, broken on daily
• .786 fib level broken on daily
However, on the daily, BTC is still (barely) hanging within the falling wedge . Also, RSI is down around 20 indicating BTC is oversold.
Several bearish things have just occurred:
• Diagonal support broken on daily
• Hash ribbon level (~37.3K) broken on daily
• Neckline, either way you look at it, broken on daily
• .786 fib level broken on daily
However, on the daily, BTC is still (barely) hanging within the falling wedge . Also, RSI is down around 20 indicating BTC is oversold.
Note
As I wrote earlier, there is a second green bar on the CMWVF indicator:
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