BTC: BREAKS DOWN! LOOKS BAD HERE!!
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Welcome to this BTC update. In my previous BTC update, I told you that BTC is at resistance and if it breaks the resistance then we see $30 soon but BTC is unable to break the resistance and got rejected badly.
Now, BTC is not looking good in the daily time frame. It breaks down from the rising wedge-like structure in the daily time frame. RSI is also breaking its uptrend.
The last two times when this happened we have seen a 30-35% drop in the price of BTC. BTC needs a daily close above
25K to invalidate this scenario else is ready for more drops.
What do you guys think about this?
Do you think that we again see a 30-35% downside move or do you think that this is a fakeout?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC update. In my previous BTC update, I told you that BTC is at resistance and if it breaks the resistance then we see $30 soon but BTC is unable to break the resistance and got rejected badly.
Now, BTC is not looking good in the daily time frame. It breaks down from the rising wedge-like structure in the daily time frame. RSI is also breaking its uptrend.
The last two times when this happened we have seen a 30-35% drop in the price of BTC. BTC needs a daily close above
25K to invalidate this scenario else is ready for more drops.What do you guys think about this?
Do you think that we again see a 30-35% downside move or do you think that this is a fakeout?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
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