According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoins one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.
Whats more, there have been bearish divergences between Bitcoins price, and the
Relative Strength Index (RSI) and the
Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.
Full Story Here.Your thoughts guys?
Better to call them as correction then calling it as bear market again, until now I didn't see any reversal of the prices of Bitcoin only the correction happening in the recent days and it's not too much only near to the top prices of the Bitcoin this year. The prediction may comes true but the bear won't stay to longer since people already get the mind set of bull run now.