How far can #Bitcoin's decline continue?
BTC 1D chart;I mentioned earlier about the mismatch on the RSI side, my expectation was that it would rise around 4% from the level it saw before it started to decline, but it started its downward movement with the reaction it received from the falling trend line (red).
If you remember, I left the rotation up to here (gray arrow) to be seen on the chart. So our expectation was that a rise was already coming up to here. However, as below, we made a deviation of around 4% above.
Now let's see where we can go from here.
I have indicated another estimated rotation with the gray arrow. I had previously drawn a bullish pattern starting from around 48k and frankly I am still waiting for the possibility of a decline to this level.
The vertical yellow line on the right side is the day of the Fed Rate Meeting, i.e. 18.09.2024
For those of you who remember, I stated in my tweet dated 30.07.2024 that I expected an interest rate cut today and that I thought the mega bull season would officially start the next day. My expectation is still in this direction and has not changed.
My prediction is that the decline will continue gradually until this date.
I have a gap expectation for the opening on the Bitcoin CME side at night. Therefore, we will update its chart after the opening. Love✨ #btc #Bitcoin
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