On the above 12 day chart price action has appreciated 70% since late 2022. The outlook for future growth maybe about to change as the flood waters threaten to submerge the performance of this Munich based institution.
Why the bearish outlook?
1) Price action and RSI support breakouts.
2) Volume is exiting the market following overbought conditions. See 2 week chart below and look left. The Money flow index now informs the outward flow.
3) The rising wedge and breakout confirms. A forecast to 155 is estimated.
Is it possible price action continues increasing? Sure.
Is it probable? No.
Ww
2-week MFI
Why the bearish outlook?
1) Price action and RSI support breakouts.
2) Volume is exiting the market following overbought conditions. See 2 week chart below and look left. The Money flow index now informs the outward flow.
3) The rising wedge and breakout confirms. A forecast to 155 is estimated.
Is it possible price action continues increasing? Sure.
Is it probable? No.
Ww
2-week MFI
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.