BTC may be completing a huge head and shoulders pattern.
IMO there's enough short term momentum to push up one last time, but I think the selling pressure is going to be too high. There will be too many people trying to cut their losses after buying in at the top.
The chart is pretty self explanatory.
Volumes are low.
RSI is still on a down trend.
Hit a huge wall of resistance yesterday when broke 41k.
If this pattern is completed it would be the confirmation that the bull run is over and that a deep correction is to come.
IMO there's enough short term momentum to push up one last time, but I think the selling pressure is going to be too high. There will be too many people trying to cut their losses after buying in at the top.
The chart is pretty self explanatory.
Volumes are low.
RSI is still on a down trend.
Hit a huge wall of resistance yesterday when broke 41k.
If this pattern is completed it would be the confirmation that the bull run is over and that a deep correction is to come.
