BTC Further losses are awaiting
Good Evening.
In early 2021 we witnessed BTC that had a huge pump and Bitcoin made several waves and ATHs, but as we saw negetive RSI divergence, each of those 5 peaks were claimed harder than the previous one except the second one, now it seems that scenario is repeating in a smaller scale.
In the wave that we are already in four picks have been made and the RSI as well as our position compared to 200MA indicates that bears have dominated the bulls.
By my view I think another local pump to $46,000 or 200SMA is expected before the plunge to $37,500 support zone, that seems a good entry point. I will put a Stop Loss on $40,000.
GOODLUCK
DISCLAIMER: The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice.
In early 2021 we witnessed BTC that had a huge pump and Bitcoin made several waves and ATHs, but as we saw negetive RSI divergence, each of those 5 peaks were claimed harder than the previous one except the second one, now it seems that scenario is repeating in a smaller scale.
In the wave that we are already in four picks have been made and the RSI as well as our position compared to 200MA indicates that bears have dominated the bulls.
By my view I think another local pump to $46,000 or 200SMA is expected before the plunge to $37,500 support zone, that seems a good entry point. I will put a Stop Loss on $40,000.
GOODLUCK
DISCLAIMER: The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice.
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