Has BTC Topped out for now?
Bearish Scenario
- Bearish Divergence seen for price movement from $36k to $55k
- The rejection of price happened at the 2.618 fib extension from the price highs of 2017 to lows of 2019.
What would this mean?
Likely to retrace the following price levels.
- 35/36k (13 EMA)
- 18/19k (55 EMA)
- 10/11k (233 EMA)
Referring to the historical price movement in 2017, BTC found support in these moving average.
However, if we break the highs of 55k, this will be probably be invalidated and we could possibly see BTC going up to $88k. Though at the moment this is unlikely.
Bearish Scenario
- Bearish Divergence seen for price movement from $36k to $55k
- The rejection of price happened at the 2.618 fib extension from the price highs of 2017 to lows of 2019.
What would this mean?
Likely to retrace the following price levels.
- 35/36k (13 EMA)
- 18/19k (55 EMA)
- 10/11k (233 EMA)
Referring to the historical price movement in 2017, BTC found support in these moving average.
However, if we break the highs of 55k, this will be probably be invalidated and we could possibly see BTC going up to $88k. Though at the moment this is unlikely.