Hi All, my main 3 take-outs from this analysis are the following:
1- Bitcoin is showing a bearish divergence between RSI and price on the weekly chart, which is a sign that price might continue dropping
2- The most recent uptrend started on July 21 and expired on Nov 8th 21 was not supported by volumes: meaning higher prices but lower volumes, also a possible sign of bearish continuation
3- To me it is realistic to think about Bitcoin reaching the 30K area, meaning an additional 40% drop from current prices
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- Bitcoin is showing a bearish divergence between RSI and price on the weekly chart, which is a sign that price might continue dropping
2- The most recent uptrend started on July 21 and expired on Nov 8th 21 was not supported by volumes: meaning higher prices but lower volumes, also a possible sign of bearish continuation
3- To me it is realistic to think about Bitcoin reaching the 30K area, meaning an additional 40% drop from current prices
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
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Le mie analisi tecniche sono potenziate dal Forecaster Terminal di Forecaster.biz. Ottieni il 10% di sconto sul tuo abbonamento con il codice FRAMER10. Scopri di più cliccando su questo link:
forecaster.biz/y/FRAMER10?coupon=FRAMER10
forecaster.biz/y/FRAMER10?coupon=FRAMER10
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.