In the last few days I see a lot of euphoria about the bitcoin breakout of the ascending triangle.
The price stopped on the 618 level of the fibonacci retracement, in the weekly it appears that Bitcoin made the breakout of the bollinger bands up, in the monthly the death kiss of the ema 21 occurred. The rsi is very high and the stoch it is at the highest levels. The NVT indicator is above 160 and this indicates that a crash is imminent. Since December, Bitcoin has formed a bear flag, an ascending triangle and tracked down to level 618 just as it did in November 2014 before the capitulation. Bitcoin could collapse down to $ 2300 with a big spike down to $ 1900 and bounce back to the 4000 zone in the coming months. It looks like it is forming an abcd pattern. The bearish cycle is upon us.
This is my personal opinion and this is not a financial advice! Good trading!
The price stopped on the 618 level of the fibonacci retracement, in the weekly it appears that Bitcoin made the breakout of the bollinger bands up, in the monthly the death kiss of the ema 21 occurred. The rsi is very high and the stoch it is at the highest levels. The NVT indicator is above 160 and this indicates that a crash is imminent. Since December, Bitcoin has formed a bear flag, an ascending triangle and tracked down to level 618 just as it did in November 2014 before the capitulation. Bitcoin could collapse down to $ 2300 with a big spike down to $ 1900 and bounce back to the 4000 zone in the coming months. It looks like it is forming an abcd pattern. The bearish cycle is upon us.
This is my personal opinion and this is not a financial advice! Good trading!