On this chart 4H, Previous support turned into resistance. Price rejected by Upper band of Keltner channel + EMA 50 + VPVR. Today is also unlock date of GBTC. According to WhaleAlert, Huge amounts of BTC and ETH have been sent to exchange which is not good as well. On daily chart, price still painting a descending triangle. Next target 24k and 20k before resuming...
Following recent price action, many still looks bullish with high target short term for BTC however:
- Weekly RSI still high at 63. Past market action always showed the weekly RSI retraced at least to a 50 and even 30 (Dec-18)
- Daily RSI still below 50 standing at 48. Resistance at 50 proved in the past that cycle was bearish below this line
- Weekly MACD above...
