Hello All,
EMA:
We have closed under D200EMA which will now act as resistance.
RSI:
Currently oversold and operating inside a channel, which has short term upside (bull trap) before being rejected towards the downside towards an estimated 20-15 level.
MACD:
Currently very low and needs to recover, which coincides with RSI increase. However, we should see MACD fail to cross or fail to cross with volume at the time RSI reaches the top of the resistance line. This will give another downturn.
Prediction:
BTC declines 60-70% from ATH (25k - 19/20k). This is an ideal entry point and would test the long term support / previous bull cycle ATH of 19/20k.
Thanks,
-G
EMA:
We have closed under D200EMA which will now act as resistance.
RSI:
Currently oversold and operating inside a channel, which has short term upside (bull trap) before being rejected towards the downside towards an estimated 20-15 level.
MACD:
Currently very low and needs to recover, which coincides with RSI increase. However, we should see MACD fail to cross or fail to cross with volume at the time RSI reaches the top of the resistance line. This will give another downturn.
Prediction:
BTC declines 60-70% from ATH (25k - 19/20k). This is an ideal entry point and would test the long term support / previous bull cycle ATH of 19/20k.
Thanks,
-G