In my previous TA I already stated my key points why BTC should go bellow 3000. Nothing has changed so far. We had a nice pump on smaller altcoins and LTC has in my opinion already reached the top.
Here's my new scenario, BTC will try to go past 4200 once again and since there won't be enough volume to push us higher it will just roll over to 3000. Personally I think what we're forming here is a raising wedge. 0.618 fib retracement or 3858 is not gonna hold this time, especially not 3330. Another thing worth to mention is the diagonal support on RSI (yellow line) once we break this expect an immediate reaction.
But the most important thing I want you guys to remember is once 200 weekly MA gets broken things will get really ugly. All those hedge funds will want to get out, so expect a huge sell off.
Here's my new scenario, BTC will try to go past 4200 once again and since there won't be enough volume to push us higher it will just roll over to 3000. Personally I think what we're forming here is a raising wedge. 0.618 fib retracement or 3858 is not gonna hold this time, especially not 3330. Another thing worth to mention is the diagonal support on RSI (yellow line) once we break this expect an immediate reaction.
But the most important thing I want you guys to remember is once 200 weekly MA gets broken things will get really ugly. All those hedge funds will want to get out, so expect a huge sell off.