A bearish wave toward 31000... look at the RSI divergence and the TT pattern in the price chart. the trend line will be broken soon and seemingly a pull-back will be followed, before the outbreak of a sharp downfall.
As you can see, there are some undeniable signs of a running downtrend:
1. first of all, the price chart crosses Bollinger's moving average, which in all previous cycles leads to the continuation of the downtrend.
2. Bolinger lines "over-extended" downward, which according to previous cycles, indicates the end of the pump phase.
3. the time duration of RSI...
After the target I mentioned in the previous analysis is successfully attained, we have this analysis... As I displayed in the chart, there are only two reasonable scenarios for bitcoin and the crypto market as a whole. the paths I drew could Stretch a bit more toward time or price dimensions, but here the ultimate pattern is intended. after the price chart...
I try to using long-term trend analysis to determine the next cycle's target. it is evident that price cycles are diminishing in each term and time cycles vice versa.
