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?
All these are prediction and speculation and there is really nothing to worry about, all it is it just a push and pull from whales and bears as they realize that this is might be there last chance to get their hands on some btc at this low of a price as we slowly approach the point where starts buying before the halving in which the prices might reach very high levels, we went back and for between the 7k and 8k multiple times and it is obviously corrections and once it breaks past the 8.5k will be good to go.