This morning, price dramatically increased, taking out a local high and pushes towards $5150. My previous outlook for Bitcoin stated that I anticipated that it would start going down, considering the resistance at $4200 it was at. I proposed an ABC as a 4th wave in a bigger wave (C), said wave being part of a large ABC denoting the whole bear market. In this case...
I have some slightly more detailed charts on my profile.
An Elliott Wave analysis using Fibonacci retracements and extensions.
RSI running into resistance and showing a similar pattern to the 2015 bear market. I expect it to be rejected on first pass.
Bearish divergence on the RSI and volume in relation to price. End of month fireworks incoming.
Declining volume; Bearish pennant pattern; Lower highs; Running into resistance.