Every single indicator points to the same conclusion and that is a fall to $1,800. One single pump to the upside and everybody is thinking about the next bull run. The weekly has not been this overbought since the beginning of the bear market, not even in January, 2018! Let that sink in for a moment. Now, think about the stock market. The S&P 500 has also been overbought for weeks and investors are reluctant to touch it. The last time the S&P 500 was in a position of a similar decline was in October, 2018. You can see what happened to Bitcoin after October, 2018.
Do not mistake this temporary pump for a trend reversal. You've been warned. If you liked this analysis, please give it a like and follow me for more. Thanks! :)
“Every single indicator points to the same conclusion and that is a fall to $1,800.”
Your position is clear.
I tend to agree with other posters, however. The ones who say it is, in fact, a trend reversal, the price will retrace to 4000s potentially, only to go up after that. I do not believe it will fall to $1,800. Neither in a straight nor in a gradual fashion.
Thankfully, there is an easy way to know whose position was correct. Let’s give it a few months.
I want to ask why did you turn an ultimate bear in 2019? this is not to criticize it is only to understand the logic behind... please do not misunderstand.