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Price prediction on BTC weekly
Based on two previous two ATHs in Dec 17 and Jun 19 and two correction periods that followed, we can find the following clues:
1. First drop would form a triangle pattern above or close to 55 EMA with RSI < 70
2. Second drop would be a nosedive with wicks touching 200 EMA
3. RSI < 50 and 55 EMA below other lower time frame 8,21,31 EMA would be bearish
Prediction: I would like to see:
1. Another triangle above 55 EMA (possibly before 2021 year end)
2. Follows by a second drop that tests 200 EMA before another takeoff
1. First drop would form a triangle pattern above or close to 55 EMA with RSI < 70
2. Second drop would be a nosedive with wicks touching 200 EMA
3. RSI < 50 and 55 EMA below other lower time frame 8,21,31 EMA would be bearish
Prediction: I would like to see:
1. Another triangle above 55 EMA (possibly before 2021 year end)
2. Follows by a second drop that tests 200 EMA before another takeoff
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