I know it sounds bad but I only trust in my tools... the classical ones and the models.
Bad sign: Multiple divergence on the chart: RSI forming a descending triangle, volumn keeps going down since Jan, MACD shows bearish sign, and of course the 2h triangle we are forming.
Good sign: buyers showing strong power for BTC around 50k. One trillion market cap resistance, which corresponds to price around 53k.
I am having mixed signals here: we know that it will go down, but how far will it go down? Charts shows that it will need a rly big correction (to 20day MA and 21day EMA) and accumulation for us to go 100k, but buyers are very strong in this market cycle, something definitely changed and we can't look exactly for history.
So my guess: go down for 50k, consolidating around 53k, go up and down with multiple wicks and waves below 50day MA, and then parabolic. IMO, wicks would be the best possible scenario to fit status quo..
Plz leave some comments so we can talk about mixed signals.
Bad sign: Multiple divergence on the chart: RSI forming a descending triangle, volumn keeps going down since Jan, MACD shows bearish sign, and of course the 2h triangle we are forming.
Good sign: buyers showing strong power for BTC around 50k. One trillion market cap resistance, which corresponds to price around 53k.
I am having mixed signals here: we know that it will go down, but how far will it go down? Charts shows that it will need a rly big correction (to 20day MA and 21day EMA) and accumulation for us to go 100k, but buyers are very strong in this market cycle, something definitely changed and we can't look exactly for history.
So my guess: go down for 50k, consolidating around 53k, go up and down with multiple wicks and waves below 50day MA, and then parabolic. IMO, wicks would be the best possible scenario to fit status quo..
Plz leave some comments so we can talk about mixed signals.
Comment:
A further leg down but with wicks to 52k, I still didn't see any bottom signal.