monajafi

monajafi

There is double top in monthly chart. also uptrend trend line slope decreased. when the price falls below 3k (previous LH) the long term downtrend will be confirmed. I believe BTC is macro bearish which will take a long time to reverse the downtrend.

monajafi

There is a high chance the ascending triangle will breakout then again we will enter descending wedge again. and weekly candle will close on bull market cycle band bottom.

monajafi

The last time 59 - 60k resistance zone was broken the market was bullish and as you see (green arrow) break out done using 7% candle with good momentum( RSI = 70). The current condition is so close to 8th May ( red arrow) with frequent testing to break while market was not so bullish ( around 50 RSI with small candles)