I think BTC shorts will break ATH soon. Everyone is calling for a short squeeze which makes me hesitant it will happen. This is a projection of how I think it will play out.
Simple RSI indicator used to determine whether we're in a current bear market or bull market.
If we don't get ETF approval then I think we breach the lower zones.
Nothing to see here... Just dumping, pumping to fill in the gaps. Then dumping once they're all filled.
Just watching this play out. Target could change depending on where we fall out of the wedge. My upper limits target is $7937
If you sloped the RSI downward. Price action very closely follows RSI action in relation to the trend lines. We are now at the same spot on the trend line with price action and RSI trend line as we were back in December.
I have a bitcoin theory I made back at the end of May that correctly predicted the mid term bottom for June with-in 24 hours. If the theory continues, we would see one last push to 7000 area before retracement to 6150 which would carry us into a nice bounce for the coming months.