#btcfallsbelow200weekma
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#BTCFallsBelow200WeekMA
Seeing Bitcoin trade below its 200-week moving average is one of those moments that grabs everyone's attention. Historically, this level has been viewed as a major long-term support zone, so whenever price dips below it, fear tends to spike.
Personally, I try to zoom out during periods like this. Extreme sentiment often creates opportunities, and market structure matters more to me than daily headlines. Whether this turns out to be a brief deviation or something deeper, risk management is what counts.
Volatility is part of crypto. Staying patient is usually harder than staying bullish.
#Bitcoin #btc #CryptoMarket #Trading
Seeing Bitcoin trade below its 200-week moving average is one of those moments that grabs everyone's attention. Historically, this level has been viewed as a major long-term support zone, so whenever price dips below it, fear tends to spike.
Personally, I try to zoom out during periods like this. Extreme sentiment often creates opportunities, and market structure matters more to me than daily headlines. Whether this turns out to be a brief deviation or something deeper, risk management is what counts.
Volatility is part of crypto. Staying patient is usually harder than staying bullish.
#Bitcoin #btc #CryptoMarket #Trading
#btcfallsbelow200weekma
📉 #BTCFallsBelow200WeekMA — History Says +113% in the Next Year
$BTC just closed below the 200-week moving average (~$62,358) for the first time in nearly two years. Currently trading ~$60,400 , down 5% on the week.
What history tells us: Per Kraken's chief economist, when BTC dips below the 200W MA:
💥Median return in the following year: +113%
💥Median time to breakeven: just 2 days
💥This has happened only ~10% of trading days since mid-2017
Supporting signals:
💥OG holders (5+ years) selling at 19-month lows — just 962 BTC/day
💥ETF outflows pace is narrowing after a record $6B 30-day drain
💥$10.6B options expiry Friday with a $60K put wall creating a magnetic floor
The flip side:
💥Deutsche Bank cites Fed hawkishness & rotation into AI as headwinds
💥10x Research warns of a possible drop to $55K
💥Retail trading volumes have collapsed
🎯 The verdict: The 200-week MA is the most respected support level in Bitcoin history. Every dip below it has historically been one of the best risk/reward entries in all of crypto. The question is whether this time is different.
NFA — DYOR.
📉 #BTCFallsBelow200WeekMA — History Says +113% in the Next Year
$BTC just closed below the 200-week moving average (~$62,358) for the first time in nearly two years. Currently trading ~$60,400 , down 5% on the week.
What history tells us: Per Kraken's chief economist, when BTC dips below the 200W MA:
💥Median return in the following year: +113%
💥Median time to breakeven: just 2 days
💥This has happened only ~10% of trading days since mid-2017
Supporting signals:
💥OG holders (5+ years) selling at 19-month lows — just 962 BTC/day
💥ETF outflows pace is narrowing after a record $6B 30-day drain
💥$10.6B options expiry Friday with a $60K put wall creating a magnetic floor
The flip side:
💥Deutsche Bank cites Fed hawkishness & rotation into AI as headwinds
💥10x Research warns of a possible drop to $55K
💥Retail trading volumes have collapsed
🎯 The verdict: The 200-week MA is the most respected support level in Bitcoin history. Every dip below it has historically been one of the best risk/reward entries in all of crypto. The question is whether this time is different.
NFA — DYOR.
Time to Start Accumulating some $BTC
More Bids Place till 56679
Sell me all your bitcoin here in this green Box Bears
Dips on Buy Mode active For me
We simply Accumulate in parts when it looks boring & start booking Profit when it look exciting again
The market is designed to make the majority do the wrong thing at the wrong time
See you
#BTC #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor
More Bids Place till 56679
Sell me all your bitcoin here in this green Box Bears
Dips on Buy Mode active For me
We simply Accumulate in parts when it looks boring & start booking Profit when it look exciting again
The market is designed to make the majority do the wrong thing at the wrong time
See you
#BTC #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor
Around $580M in $BTC high-leverage long positions still remain in the market.
Most of the excessive leverage on the long side has already been flushed out.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall
Most of the excessive leverage on the long side has already been flushed out.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall
Emilio Crypto Bojan
·
--
$1,000,000,000 in high-leverage long positions has been liquidated as $BTC extends its decline.
#SKHynixADRListing #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall #SouthKoreaIntegratesTokenSecurities
#SKHynixADRListing #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall #SouthKoreaIntegratesTokenSecurities
SOL/USDT TRADE ALERT
Direction: SHORT
Entry Zone: 69.50 - 70.20
TP1: 68.40
TP2: 66.80
TP3: 63.50
Stop Loss: 71.30
Leverage: 5x–10x
Confidence: 79%
$SOL
#solana
#sol
#SKHynixADRListing
#BTCFallsBelow200WeekMA
Direction: SHORT
Entry Zone: 69.50 - 70.20
TP1: 68.40
TP2: 66.80
TP3: 63.50
Stop Loss: 71.30
Leverage: 5x–10x
Confidence: 79%
$SOL
#solana
#sol
#SKHynixADRListing
#BTCFallsBelow200WeekMA
Khan_Tradesfx:
sure boss
$LAB #short 💸 Alert Guys Use 2% of portfolio💸
Accurcy 75%
Trad setup
🚦Entry 18/19/20
⚠️Sl 23
🎯Target 13/8
#SKHynixADRListing #BTCFallsBelow200WeekMA #LABUSDT
Accurcy 75%
Trad setup
🚦Entry 18/19/20
⚠️Sl 23
🎯Target 13/8
#SKHynixADRListing #BTCFallsBelow200WeekMA #LABUSDT
🚨 $BTC did exactly what I was warning about 🚨
I kept saying again and again that the market was bearish and the support reaction was not looking strong.
Many people were waiting for recovery from that area.
But I clearly said this bounce was not real strength.
The market was weak, volume was not supporting buyers, and every small move up was looking like a relief bounce before another dump.
And now you can see the result.
$BTC broke down again from the same area and dumped hard.
This is why I don’t trust every green candle in a bearish structure.
Now what next?
Small pullbacks can come, but I still don’t see a clean reason to buy aggressively here.
Until $BTC shows real strength and reclaims important levels, I’ll treat every weak bounce carefully.
Don’t try to catch the falling knife blindly.
The bigger picture is still heavy.
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
#SpaceXSharesFall
I kept saying again and again that the market was bearish and the support reaction was not looking strong.
Many people were waiting for recovery from that area.
But I clearly said this bounce was not real strength.
The market was weak, volume was not supporting buyers, and every small move up was looking like a relief bounce before another dump.
And now you can see the result.
$BTC broke down again from the same area and dumped hard.
This is why I don’t trust every green candle in a bearish structure.
Now what next?
Small pullbacks can come, but I still don’t see a clean reason to buy aggressively here.
Until $BTC shows real strength and reclaims important levels, I’ll treat every weak bounce carefully.
Don’t try to catch the falling knife blindly.
The bigger picture is still heavy.
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
#SpaceXSharesFall
User-lilflower :
just do 5x
For the Scotland vs Brazil prediction market, the key question is whether the market price is correctly valuing Brazil’s talent edge versus Scotland’s ability to keep the game tight. The match is scheduled as a Group C World Cup fixture.
Market view (1X2):
🇧🇷 Brazil win: Strongest outcome. Most models make Brazil the clear favorite, with estimates around the 60–70%+ win range.
🤝 Draw: A realistic hedge outcome because Scotland’s likely approach is defensive structure, low tempo, and set pieces. Several models place the draw around the 20% range.
🏴 Scotland win: The upside scenario, but it likely requires an early goal, excellent defensive execution, or Brazil underperforming.
My market read:
Most likely result: Brazil win
Most likely scorelines: 0–2 or 1–2 Brazil
Risk to Brazil holders: A short-priced favorite may have limited value if the market already assumes Brazil dominance. A tight win or draw is the main danger.
Scotland’s path: Keep Brazil away from transition space, defend crosses, win set pieces, and force a low-scoring match.
Trading angle (not financial advice):
If the Binance Wallet market price implies Brazil has a probability lower than your estimate, Brazil YES may have value.
If Brazil is priced extremely high, the better risk/reward may be looking at draw or a lower-scoring outcome rather than chasing a small favorite return.
Avoid assuming “Brazil must win easily”; tournament group situations can create conservative game states.
My probability estimate:
Brazil win: ~65%
Draw: ~22%
Scotland win: ~13%
Projected result: Scotland 0–2 Brazil.
You can ask me to , , , or .
#SKHynixADRListing #BTCFallsBelow200WeekMA
Market view (1X2):
🇧🇷 Brazil win: Strongest outcome. Most models make Brazil the clear favorite, with estimates around the 60–70%+ win range.
🤝 Draw: A realistic hedge outcome because Scotland’s likely approach is defensive structure, low tempo, and set pieces. Several models place the draw around the 20% range.
🏴 Scotland win: The upside scenario, but it likely requires an early goal, excellent defensive execution, or Brazil underperforming.
My market read:
Most likely result: Brazil win
Most likely scorelines: 0–2 or 1–2 Brazil
Risk to Brazil holders: A short-priced favorite may have limited value if the market already assumes Brazil dominance. A tight win or draw is the main danger.
Scotland’s path: Keep Brazil away from transition space, defend crosses, win set pieces, and force a low-scoring match.
Trading angle (not financial advice):
If the Binance Wallet market price implies Brazil has a probability lower than your estimate, Brazil YES may have value.
If Brazil is priced extremely high, the better risk/reward may be looking at draw or a lower-scoring outcome rather than chasing a small favorite return.
Avoid assuming “Brazil must win easily”; tournament group situations can create conservative game states.
My probability estimate:
Brazil win: ~65%
Draw: ~22%
Scotland win: ~13%
Projected result: Scotland 0–2 Brazil.
You can ask me to , , , or .
#SKHynixADRListing #BTCFallsBelow200WeekMA
$SAHARA has been under significant pressure recently after experiencing a sharp selloff earlier this month. The token is still trading in a weak short-term trend, with market sentiment affected by recent volatility and concerns over upcoming token unlocks that could increase circulating supply. However, the project continues to attract attention due to its strong focus on decentralized AI infrastructure and backing from major investors. �
BeInCrypto +1
📊 Technical Outlook
Trend: Short-term bearish, but oversold conditions could trigger a relief bounce. �
CoinMarketCap +1
Key Support: Around the recent lows; losing this level may lead to further downside.
Key Resistance: Recovery above short-term resistance could signal renewed buying momentum.
🔮 Prediction for Next Week
SAHARA is likely to remain highly volatile due to the large token unlock scheduled for late June. If buying interest returns, a 10–20% rebound is possible from oversold levels. However, continued selling pressure from unlock-related concerns could push prices lower before stabilization. Traders should expect sharp price swings. �
BeInCrypto +2
Overall Bias: ⚠️ *Cautiously Bearish to Neutral for the next week.*
#DeXeJumps70%In24h #BTCFallsBelow200WeekMA #CongressBarsFedCBDCIssuance #SpaceXSharesFall #NasdaqDrops2.2%
BeInCrypto +1
📊 Technical Outlook
Trend: Short-term bearish, but oversold conditions could trigger a relief bounce. �
CoinMarketCap +1
Key Support: Around the recent lows; losing this level may lead to further downside.
Key Resistance: Recovery above short-term resistance could signal renewed buying momentum.
🔮 Prediction for Next Week
SAHARA is likely to remain highly volatile due to the large token unlock scheduled for late June. If buying interest returns, a 10–20% rebound is possible from oversold levels. However, continued selling pressure from unlock-related concerns could push prices lower before stabilization. Traders should expect sharp price swings. �
BeInCrypto +2
Overall Bias: ⚠️ *Cautiously Bearish to Neutral for the next week.*
#DeXeJumps70%In24h #BTCFallsBelow200WeekMA #CongressBarsFedCBDCIssuance #SpaceXSharesFall #NasdaqDrops2.2%
$ID SPACE ID (ID) continues to trade in a volatile range as the broader altcoin market remains cautious. The project still benefits from its strong position in the decentralized identity and Web3 domain sector, supported by its multichain naming services and token buyback-and-burn mechanism. However, low liquidity and the lack of major recent ecosystem catalysts have limited upside momentum. �
CoinMarketCap +1
Technical Outlook:
Key support: $0.026–$0.029
Immediate resistance: $0.034–$0.041
A breakout above resistance could attract fresh buying, while losing support may trigger additional selling pressure. Trading volume remains the key indicator to watch. �
CoinMarketCap
Prediction for Next Week
📈 Bullish scenario: If ID holds above support and market sentiment improves, it could test the $0.035–$0.041 range.
📉 Bearish scenario: If selling pressure continues, the price could revisit the $0.024–$0.026 area. �
CoinMarketCap +1
*Overall outlook: Neutral to slightly bullish, provided the broader crypto market remains stable.*
#DeXeJumps70%In24h #BTCFallsBelow200WeekMA #CongressBarsFedCBDCIssuance #EthereumFoundationToCutBudget40% #MicronHitsRecordHigh
CoinMarketCap +1
Technical Outlook:
Key support: $0.026–$0.029
Immediate resistance: $0.034–$0.041
A breakout above resistance could attract fresh buying, while losing support may trigger additional selling pressure. Trading volume remains the key indicator to watch. �
CoinMarketCap
Prediction for Next Week
📈 Bullish scenario: If ID holds above support and market sentiment improves, it could test the $0.035–$0.041 range.
📉 Bearish scenario: If selling pressure continues, the price could revisit the $0.024–$0.026 area. �
CoinMarketCap +1
*Overall outlook: Neutral to slightly bullish, provided the broader crypto market remains stable.*
#DeXeJumps70%In24h #BTCFallsBelow200WeekMA #CongressBarsFedCBDCIssuance #EthereumFoundationToCutBudget40% #MicronHitsRecordHigh
#BTCFallsBelow200WeekMA
https://app.binance.com/uni-qr/cvid/337517762798961?r=LSMO7UD4&l=en&uco=yoKiYulFzaGNu3hgaLFPoA&uc=app_square_share_link&us=copylink ,
https://app.binance.com/uni-qr/cvid/337517762798961?r=LSMO7UD4&l=en&uco=yoKiYulFzaGNu3hgaLFPoA&uc=app_square_share_link&us=copylink ,
What caught my attention wasn't just the price action, but how often these coins are being mentioned across crypto communities. In a market where new tokens appear every day and quickly fade from the spotlight, maintaining visibility is not an easy task.
Both $SYN and $ARX have managed to build strong recognition among traders and crypto enthusiasts. The growing conversations around them suggest that more people are paying attention and keeping them on their watchlists.
A well-known coin isn't created overnight. It takes community support, consistent development, and the ability to stay relevant when market sentiment changes. From what I've observed, both projects are steadily building that reputation.
Whether you're actively investing or simply following market trends, $SYN and are two names that continue to generate interest and attract attention. It will be interesting to see how these popular projects evolve as the crypto space moves into its next phase.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SouthKoreaIntegratesTokenSecurities #DeXeJumps70%In24h
Both $SYN and $ARX have managed to build strong recognition among traders and crypto enthusiasts. The growing conversations around them suggest that more people are paying attention and keeping them on their watchlists.
A well-known coin isn't created overnight. It takes community support, consistent development, and the ability to stay relevant when market sentiment changes. From what I've observed, both projects are steadily building that reputation.
Whether you're actively investing or simply following market trends, $SYN and are two names that continue to generate interest and attract attention. It will be interesting to see how these popular projects evolve as the crypto space moves into its next phase.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SouthKoreaIntegratesTokenSecurities #DeXeJumps70%In24h
$SYN🤔🤔
$ARX👀👀
23 hr(s) left
#BTCBreaksBelowRainbowChartFloor
$BTC has moved below the lower boundary of the Rainbow Chart, a level that often reflects extreme market fear. While short-term sentiment remains cautious, this zone has historically attracted long-term investors looking for value during periods of uncertainty.
The key question now is whether $BTC can reclaim lost support and rebuild momentum. Until then, volatility is likely to remain high, making risk management more important than ever.
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
#BTC #EthereumFoundationToCutBudget40%
$BTC has moved below the lower boundary of the Rainbow Chart, a level that often reflects extreme market fear. While short-term sentiment remains cautious, this zone has historically attracted long-term investors looking for value during periods of uncertainty.
The key question now is whether $BTC can reclaim lost support and rebuild momentum. Until then, volatility is likely to remain high, making risk management more important than ever.
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
#BTC #EthereumFoundationToCutBudget40%
$HEI HEICO continues to show strong momentum, supported by robust demand in both its commercial aerospace and defense businesses. The company recently reported strong quarterly results, with double-digit revenue growth, expanding margins, and record order levels. Recent acquisitions are also expected to strengthen its long-term growth pipeline. Analysts remain generally bullish, with several firms raising their price targets following the latest earnings report. �
Investing.com +2
Technical Outlook:
Trend: Bullish (long-term uptrend remains intact)
Key Support: $325–$330
Resistance: $345–$350
Momentum remains positive, although the stock appears somewhat extended after its recent rally. �
MarketBeat +1
Prediction for Next Week
📈 Bullish to Neutral
If HEI holds above the $325 support zone, the stock could test the $345–$355 range next week. A break above resistance may open the door for further upside, while profit-taking could lead to a short pullback toward support. Overall, the medium-term outlook remains constructive due to strong fundamentals and continued aerospace demand. �
MarketBeat +1
#DeXeJumps70%In24h #CongressBarsFedCBDCIssuance #BTCFallsBelow200WeekMA #EthereumFoundationToCutBudget40% #NasdaqDrops2.2%
Investing.com +2
Technical Outlook:
Trend: Bullish (long-term uptrend remains intact)
Key Support: $325–$330
Resistance: $345–$350
Momentum remains positive, although the stock appears somewhat extended after its recent rally. �
MarketBeat +1
Prediction for Next Week
📈 Bullish to Neutral
If HEI holds above the $325 support zone, the stock could test the $345–$355 range next week. A break above resistance may open the door for further upside, while profit-taking could lead to a short pullback toward support. Overall, the medium-term outlook remains constructive due to strong fundamentals and continued aerospace demand. �
MarketBeat +1
#DeXeJumps70%In24h #CongressBarsFedCBDCIssuance #BTCFallsBelow200WeekMA #EthereumFoundationToCutBudget40% #NasdaqDrops2.2%
😂 Elon Musk just pulled off something most people can't even comprehend.
Reports suggest he lost around $350 billion in a single day, smashing his own previous record of roughly $180 billion in 2023 and cementing his place as the undisputed heavyweight champion of wealth evaporation. 🚀📉
$TSLA TSLAUSDT Perp 381.17 -1.06%
Think about that for a second.
A loss of $350 billion is larger than the entire market value of many Fortune 500 companies. It's enough money to buy countless businesses, fund major infrastructure projects, or reshape entire industries.
Meanwhile, when I lose $35, I spend the next 3–5 business days replaying every decision I've ever made, questioning my life choices, and staring at charts like they're going to apologize. 😭
If I somehow lost $350 billion in a single day, you wouldn't hear from me again. I'd log out of every social media account, throw my phone into a lake, disappear into the mountains, and let everyone assume I'd joined a monastery in search of inner peace. 🧘♂️😂
The difference between billionaires and the rest of us is that they can lose more money in one day than most countries spend in a year—and still show up to work the next morning.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall #SouthKoreaIntegratesTokenSecurities
Reports suggest he lost around $350 billion in a single day, smashing his own previous record of roughly $180 billion in 2023 and cementing his place as the undisputed heavyweight champion of wealth evaporation. 🚀📉
$TSLA TSLAUSDT Perp 381.17 -1.06%
Think about that for a second.
A loss of $350 billion is larger than the entire market value of many Fortune 500 companies. It's enough money to buy countless businesses, fund major infrastructure projects, or reshape entire industries.
Meanwhile, when I lose $35, I spend the next 3–5 business days replaying every decision I've ever made, questioning my life choices, and staring at charts like they're going to apologize. 😭
If I somehow lost $350 billion in a single day, you wouldn't hear from me again. I'd log out of every social media account, throw my phone into a lake, disappear into the mountains, and let everyone assume I'd joined a monastery in search of inner peace. 🧘♂️😂
The difference between billionaires and the rest of us is that they can lose more money in one day than most countries spend in a year—and still show up to work the next morning.
#SKHynixADRListing #BTCFallsBelow200WeekMA #BTCBreaksBelowRainbowChartFloor #SpaceXSharesFall #SouthKoreaIntegratesTokenSecurities
🚨 ZEC/USDT SHORT SIGNAL 🚨
🔹 Current Price: $403
🔹 Entry Zone: $400 - $405
🔹 Target 1: $390 🎯
🔹 Target 2: $385 🎯
🔹 Final Target: $380 🎯
🔹 Stop Loss: $430 ⛔
📊 Technical View: ZEC is struggling down key resistance and sellers remain in advance control. A rejection around the $400-$405 zone could push the price toward the $390-$380 support area. Risk management is essential as volatility remains high.
Bears are defending resistance aggressively. If momentum stays weak, ZEC could revisit the $380 zone soon. Trade smart and manage risk.
This is a trading idea, not financial advice.
$ZEC
$MUB
$BTC
#Write2Earn
#SpaceXSharesFall
#NasdaqDrops2.2%
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
🔹 Current Price: $403
🔹 Entry Zone: $400 - $405
🔹 Target 1: $390 🎯
🔹 Target 2: $385 🎯
🔹 Final Target: $380 🎯
🔹 Stop Loss: $430 ⛔
📊 Technical View: ZEC is struggling down key resistance and sellers remain in advance control. A rejection around the $400-$405 zone could push the price toward the $390-$380 support area. Risk management is essential as volatility remains high.
Bears are defending resistance aggressively. If momentum stays weak, ZEC could revisit the $380 zone soon. Trade smart and manage risk.
This is a trading idea, not financial advice.
$ZEC
$MUB
$BTC
#Write2Earn
#SpaceXSharesFall
#NasdaqDrops2.2%
#BTCFallsBelow200WeekMA
#BTCBreaksBelowRainbowChartFloor
Binance update #
$BTC #BTCFallsBelow200WeekMA
$BTC #BTCFallsBelow200WeekMA
Crypto Daily™
·
--
Bitcoin Confirms Bearish Pattern: Is the Next Leg Down About to Begin?
The $BTC price has just confirmed below the neckline of a bearish head and shoulders pattern. Could the price now go down to $57K, or will a fakeout catch traders by surprise?
Head and shoulders pattern confirmed
Source: TradingView
The short-term time frame shows the head and shoulders pattern. The pattern has completely played out and the $BTC price has pierced through the neckline, having just confirmed the breakdown by rising up to touch the neckline again in the last few hours. If the pattern continues playing out its measured move, this could take the price all the way down to $57K.
Of course, there is a little matter of a bull market trendline and horizontal support between here and the $57K bear target, but if the bears can get some momentum behind them, perhaps helped by a U.S. stock market that is starting to fall, $57K may just be a staging point on the way down to $50K.
If on the other hand the stock market rallies, perhaps on news of successful talks between the US and Iran, Bitcoin could just rally back to the last high, invalidating the head and shoulders pattern. It could even recommence the short-term trend to the upside.
No real momentum behind breakdown so far
Source: TradingView
The daily time frame shows the measured move out of the head and shoulders pattern, down to $57,400. So far there is no volume to speak of that would suggest the sellers are getting behind this move, but if the $BTC price does continue to come down, sellers could start to jump onboard.
It can be seen that $52K down to $50K could be targets if a crash materialised and the price came down to test the bear market trendline.
Bullish divergence puts bear market on last legs
Source: TradingView
Things are starting to take shape in the weekly time frame. A simply huge sign that this bear market might be on its last legs is the bullish divergence between price action and the RSI. Given that this is a high time frame, this bullish divergence is really no joke.
Could the bullish divergence be invalidated? Yes, it could, but the exciting thing for the bulls here is that while the price could come down further, it’s not going to invalidate the divergence. It’s the RSI indicator line that would need to come down and take out the previous bottom. On paper this might seem a reasonable possibility, but not if one considers that the last bottom is almost as low as the June 2022 RSI bottom, which is the lowest point on record.
If we look at the RSI during that last bear market, it can be seen that once a bottom was reached the price went sideways and downwards to the actual bottom, which was around 13% lower. If we translate that forward to today’s situation, it could mean the $BTC price dropping to around $52K - a price already mentioned.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Head and shoulders pattern confirmed
Source: TradingView
The short-term time frame shows the head and shoulders pattern. The pattern has completely played out and the $BTC price has pierced through the neckline, having just confirmed the breakdown by rising up to touch the neckline again in the last few hours. If the pattern continues playing out its measured move, this could take the price all the way down to $57K.
Of course, there is a little matter of a bull market trendline and horizontal support between here and the $57K bear target, but if the bears can get some momentum behind them, perhaps helped by a U.S. stock market that is starting to fall, $57K may just be a staging point on the way down to $50K.
If on the other hand the stock market rallies, perhaps on news of successful talks between the US and Iran, Bitcoin could just rally back to the last high, invalidating the head and shoulders pattern. It could even recommence the short-term trend to the upside.
No real momentum behind breakdown so far
Source: TradingView
The daily time frame shows the measured move out of the head and shoulders pattern, down to $57,400. So far there is no volume to speak of that would suggest the sellers are getting behind this move, but if the $BTC price does continue to come down, sellers could start to jump onboard.
It can be seen that $52K down to $50K could be targets if a crash materialised and the price came down to test the bear market trendline.
Bullish divergence puts bear market on last legs
Source: TradingView
Things are starting to take shape in the weekly time frame. A simply huge sign that this bear market might be on its last legs is the bullish divergence between price action and the RSI. Given that this is a high time frame, this bullish divergence is really no joke.
Could the bullish divergence be invalidated? Yes, it could, but the exciting thing for the bulls here is that while the price could come down further, it’s not going to invalidate the divergence. It’s the RSI indicator line that would need to come down and take out the previous bottom. On paper this might seem a reasonable possibility, but not if one considers that the last bottom is almost as low as the June 2022 RSI bottom, which is the lowest point on record.
If we look at the RSI during that last bear market, it can be seen that once a bottom was reached the price went sideways and downwards to the actual bottom, which was around 13% lower. If we translate that forward to today’s situation, it could mean the $BTC price dropping to around $52K - a price already mentioned.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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