- RSI reversal divergence (and on the daily) - Fell out of ascending wedge (blue line) - Still inside ascending wedge (red line) - but both are bearish patterns - bull target zone reached (but I thought we might hit 49) - current top pattern looks like a double top with strong rejection on the second attempt
- looking for a reasonable correction... 40-43... maybe more.
Great analysis. I agree, Bitcoin is looking weak, but it's being stubborn. Won't take much for the greed and fomo to evaporate. 42K seems like a good first target, since that was the key resistance level for the bearish downtrend. Even if it breaks that and lands around 36K, it will still be bullish.