Bears will prevail but bulls are using everything they have to push the price even further
From what i see, BTCis moving along a broadening wedge which is a bearish pattern
9000 will be a crucial level
edit: sl: 9300
Main reason for this extreme pump is FOMO
Now the price is extremely overbought on rsi both on weekly and daily - very bearish
We saw what a overbought signal on weekly did to the crypto market
Massive retest is possible therefore I am short for the meantime until the market cools down
targets 7.6, 7.5, 7.4, 6
Since my stop loss triggered from my last idea, I'm still bullish atm.
This is the pattern i see unfolding atm - it might be too early to call this tho so Im waiting for for more price action on both sides.
I'm aware that BTC is due for its halving next week. This idea is based fully on whether or not the pattern I saw could play out again.
It'll be interesting to see if this DOES play out every 2 years on cryptocurrecy
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As shown on the graph, XTZ failed to break through a resistance level
I expect the price to spring back at 2.57 level because I believe there is plenty of room for the RSI to move downwards into the oversold area.
Prior to that, I believe It is also possible for the price to bounce between 2.63-2.64 levels before dropping below
Keep an eye for ETH price too as...