A Drop Ahead? Analysis of Bitcoin against the dollar
Hello investors, I would like to share my perspective on Bitcoin for the next few days and explain why I am betting on a drop.
Bitcoin recently made 2 bulltraps at the important $100,000 level and it seems to be forming a head and shoulders pattern on a daily basis.
I believe that this movement has the possibility of correcting to around $70,000 due to the existence of a very important support, the convergence with the Fibbonatti levels at this level and the break of the trend line in the RSI.
Reasons for selling:
1 - Formation of a head and shoulders pattern.
2 - Two bulltraps at the $100,000 level.
3 - Break of the trend line in the RSI.
Target at the next important support.
Bitcoin recently made 2 bulltraps at the important $100,000 level and it seems to be forming a head and shoulders pattern on a daily basis.
I believe that this movement has the possibility of correcting to around $70,000 due to the existence of a very important support, the convergence with the Fibbonatti levels at this level and the break of the trend line in the RSI.
Reasons for selling:
1 - Formation of a head and shoulders pattern.
2 - Two bulltraps at the $100,000 level.
3 - Break of the trend line in the RSI.
Target at the next important support.
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