Fractal, Double Divergence and Doji
Corroborating with another post i've seen, in past 2 ath's prior to this, bitcoin has bounced off the trendline (dotted) once for a small correction where it has quickly bounced upwards and touched the trendline again. This is followed by a longer and more significant downtrend.I expect bitcoin to follow this fractal, not only because it likes to repeat itself, but also because there is bearish divergence on both the RSI indicator and volume. As seen in the graph, bearish divergence in the same previous scenarios resulted in reversal. Higher highs have been made with price, yet lower highs on both volume and RSI (which btc . If the 1D candle closes as a Doji, this will confirm the reversal for myself. If it falls, I expect a retrace to ~$4900 Good luck with your trading.
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