So many bearish complex chart. K eep I t S imple S tupid
So many unsure explanations here in tradingview. The 50 weekly sma is the only thing you need to know. When price crosses above the 50 weekly sma, time to sell your house, your kids, your wife, your car, yourself and go all in BITCOIN. We might start accumulation here as you can see from the very similar RSI Pattern from the last bear market. Plus 200 weekly...
Much easier to see this run as a retracement on an inverse chart.
Max area of this bounce is around 4600 ish. Then we go to 3200-3000. Don't FOMO, save your capital.
Protect your capital and make sure you still have enough to buy a whole BITCOIN if we go down the white major support line.
double top, neckline broken what goes up must come down. shorting the retest. potential profit: 17%
INVERSE BTC/USD CHART. LOOKS LIKE IT'S GOING TO BREAK OUT EH?
You know what it is! When the weekly rsi touch 20-30, that is when we reach bottom.
IF this is a huge bear flag, then price can go down to 4800-5000. BUT a break on the resistance(red box) will invalidate this.
THE BOTTOM IS NOT IN YET NO ONE IS PANICKING YET. JUST EVERYONE HOPING 6K WON'T BREAK. CAPITULATION STILL YET TO COME.
Simple 10/20 sma crossovers. If we cross then hello 6-5k again.
Double top Neckline broken Short @ break of support