As you can see on the chart, the RSI bearish divergence that we see today is basically identical to the one we saw in 2014 right before the crash. Another important point of comparison is that right at this point, in 2014, BTC hit the 200MA and turned around... exactly like it did yesterday.
Also, if you look around at the alt coins and try this same excercise, you'll notice the same bearish divergence pattern on the day chart for basically every single one of them.
If you ask me, this isn't looking good.
That said, if you have anything to convince me I'm wrong, I want to hear it!
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I published a private idea with lines to indicate the dates so as so compare where we are in the cycle.
Yep, BTC has hit the 200MA 3 times in the last 3 months and is getting sold down each time. Looks like $2-4k range is still in play before the bear finally dies..
WaveRider1423
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Thanks for your charts and sharing your ideas. Good luck trading.