Multiple negative divergences are seen here on daily.
-Ascending Wedge
-Broadening ascending wedge
-MACD Negative Divergence
-Money Flow Negative Divergence
I have a downside initial target at 17.5K -- I have to see from there where the market goes. If inflation is not under control by May / June, and the terminal rate nears 6-7 percent, Bitcoin will go into full-blown capitulation. Be careful if you are a long-term investor. I would sell everything at 25-26 on the next rally.
-Ascending Wedge
-Broadening ascending wedge
-MACD Negative Divergence
-Money Flow Negative Divergence
I have a downside initial target at 17.5K -- I have to see from there where the market goes. If inflation is not under control by May / June, and the terminal rate nears 6-7 percent, Bitcoin will go into full-blown capitulation. Be careful if you are a long-term investor. I would sell everything at 25-26 on the next rally.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.