BTC whale distribution again ?
As bitcoin fails to break higher, I'm getting the same feeling I had a few times this year...
I see a lot of bullish sentiment, fear & greed index is still "greed", CT bulls telling followers this is just a retest before parabolic run.
Clearly same pattern is forming like we saw in Mar-Apr and Aug-Oct: rising wedge with bearish div on RSI.
- If this plays out target is around 51-53k.
- RSI and/or price break above resistance invalidates this idea
Tell me what you think, have a nice day !
ps: don't mind my grammar
I see a lot of bullish sentiment, fear & greed index is still "greed", CT bulls telling followers this is just a retest before parabolic run.
Clearly same pattern is forming like we saw in Mar-Apr and Aug-Oct: rising wedge with bearish div on RSI.
- If this plays out target is around 51-53k.
- RSI and/or price break above resistance invalidates this idea
Tell me what you think, have a nice day !
ps: don't mind my grammar
Nota
3 Days later, we lost support around 63k, expecting this to act as resistance now before we take a deeper dive towards 53k.
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