So a bearhish divergence, a really strong one is forming in the 3 day chart.
We could see another leg down, the last shakeout of this rally, this could take us to around 42k, the january top.
We can find a very similar structure in the runup in 2017, when it fell from 3000 to 1800, or from 5000 to 3000. The structures then were quite similar.
But here, the bearish divergence is even stronger. It would be an interesting shakeout, and would also trigger the altcoin rally, as people would switch from BTC into other coins.
Just an idea though. It could be invalidated, because BTC could just continue pumping despite the bearish divergence. We shall see soon.
In any case, with or without the intermediate dump, we will quickly resume our trajectory to 100k-ish.
And then things will get really interesting. Will it manage to break through the upper trendchannel of the longterm curved resistance? This will be indeed very interesting to observe. If BTC really goes above,
we could see values of hundreds of k. But first, BTC must take out this insanely strong resistance that goes back to 2010, and I don't know if it can achieve that.
We could see another leg down, the last shakeout of this rally, this could take us to around 42k, the january top.
We can find a very similar structure in the runup in 2017, when it fell from 3000 to 1800, or from 5000 to 3000. The structures then were quite similar.
But here, the bearish divergence is even stronger. It would be an interesting shakeout, and would also trigger the altcoin rally, as people would switch from BTC into other coins.
Just an idea though. It could be invalidated, because BTC could just continue pumping despite the bearish divergence. We shall see soon.
In any case, with or without the intermediate dump, we will quickly resume our trajectory to 100k-ish.
And then things will get really interesting. Will it manage to break through the upper trendchannel of the longterm curved resistance? This will be indeed very interesting to observe. If BTC really goes above,
we could see values of hundreds of k. But first, BTC must take out this insanely strong resistance that goes back to 2010, and I don't know if it can achieve that.
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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.