Double Tap at the Top? BTC Signals a Bearish Dive Ahead
The charts are whispering bearish signs. We're spotting a classic 'double tap' formation on BTC, with the second peak struggling to keep up the momentum, reflected by a quieter volume. It's like the market's running out of breath at the top of a hill.
The R1 level's been a tough nut to crack, putting on a solid show as resistance. Meanwhile, the PP line's been the net below the high-wire act, catching BTC each time it stumbles. But let's talk RSI – it's still up there in the clouds, and the divergence we're seeing? That's the kind of signal that makes traders sit up straight.
Here's the play-by-play: We're likely gearing up for one last plunge, a bearish spell that could last a few months, maybe knocking on the door of sub-20K levels. It's not all doom and gloom, though. This could just be a deep breath before the crypto spring. Keep your eyes peeled and your strategies tight – the season's about to change, and the smart money's always ahead of the weather.
The R1 level's been a tough nut to crack, putting on a solid show as resistance. Meanwhile, the PP line's been the net below the high-wire act, catching BTC each time it stumbles. But let's talk RSI – it's still up there in the clouds, and the divergence we're seeing? That's the kind of signal that makes traders sit up straight.
Here's the play-by-play: We're likely gearing up for one last plunge, a bearish spell that could last a few months, maybe knocking on the door of sub-20K levels. It's not all doom and gloom, though. This could just be a deep breath before the crypto spring. Keep your eyes peeled and your strategies tight – the season's about to change, and the smart money's always ahead of the weather.
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.