Just demonstrating the bearish divergence present on the double top BTC has formed on the daily candles.
Long term trends seem to outweigh short term predictions.
As someone deeply invested in BTC and it's future, I want to see the asset appreciate. I also want it grow without tumors and steroids - if you believe in the 100k+ future of BTC then you should be interested in seeing a pullback here that would solidify a floor and a trajectory for BTC's upcoming future. The current trend is too parabolic and has been resisted multiple times, I believe it to be statistically unlikely to continue to see BTC rise much above the current price of $19,500 in the coming weeks.
A good future entry is in and around $16,000 - reference the Fibonacci retracement.
I do expect price to come test the zone between 12k-14k .. however a lot of people expect price to go make a new ATH
what if we drop to 8k and below … that would be ugly lol ..
any way thank you for your analysis we need a healthy correction to resume uptrend
uncleFA7HER
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@Abu-Sushi, new ATH after this signal ? Yeah it would just be FOMO otherwise I can't see it. I doubt BTC will ever cross under 14k again - perhaps as a dip but not in the long term given the halving that happened and the dollar has lost a lot of value vs assets. Time will tell !
what if we drop to 8k and below … that would be ugly lol ..
any way thank you for your analysis we need a healthy correction to resume uptrend