Greetings TradingView!
This is the doomsday scenario for Bitcoin, if we fail to close a daily candle back above $52,000 then we can kiss goodbye to the expectations of higher prices this year. I simply don't see it happening.
The truth is that momentum on the RSI is once again falling as the price is increasing, this makes for a bearish divergence as seen when we hit Bitcoin's ATH. We had a huge correction that stung a lot of people who thought were going to infinity.
Based on lower support structures we could be heading to $9500 in the worst possible scenario as this is a high volume node where price has been stable in the past.
Pay attention to daily candles rejecting from the bottom trend line where we are at now!
Happy Trading!
ALTUS
This is the doomsday scenario for Bitcoin, if we fail to close a daily candle back above $52,000 then we can kiss goodbye to the expectations of higher prices this year. I simply don't see it happening.
The truth is that momentum on the RSI is once again falling as the price is increasing, this makes for a bearish divergence as seen when we hit Bitcoin's ATH. We had a huge correction that stung a lot of people who thought were going to infinity.
Based on lower support structures we could be heading to $9500 in the worst possible scenario as this is a high volume node where price has been stable in the past.
Pay attention to daily candles rejecting from the bottom trend line where we are at now!
Happy Trading!
ALTUS