BTC in 2020, as in 2017, was strongly correlated with the movements on the DXY dollar indicator. As you can see on the DXY chart, we are approaching a strong resistance, which, similarly to 2017, stopped the further weakening of the dollar, which resulted in BTC beginning its long correction. Now we are in a similar place where several significant signals are superimposed.
The first is exhaustion on the M1, W1, D1 axes, which means that there is a lack of energy for further increases on the higher timelines, which may translate into a long consolidation or correction.
The second is the MACD which indicates a trend reversal from uptrend to corrective.
The three are just the DXY indicator, which is approaching the demand region, but it still has a 1-2% decline, so I believe that BTC will post its maxiumum at 28k. It's just my opinion.
The first is exhaustion on the M1, W1, D1 axes, which means that there is a lack of energy for further increases on the higher timelines, which may translate into a long consolidation or correction.
The second is the MACD which indicates a trend reversal from uptrend to corrective.
The three are just the DXY indicator, which is approaching the demand region, but it still has a 1-2% decline, so I believe that BTC will post its maxiumum at 28k. It's just my opinion.