Update on BTC: Bitcoin repeating the trend. The Bounce is yet come
Magic sell-offs happening again.
It looks like Bitcoin is reaching the trend line one more time before it makes a move. This can be compared to the previous sell-off, where BTC actually touched the trend line multiple times before it started the bull run.
The MACD and RSI are similar to April except that we have higher lows for both of them, confirming Bitcoin's triangle pattern.
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The 4h Chart:
- we can see that BTC had to make a move. Two scenarios where possible: 1. breaking the ascending triangle pattern or 2. losing the higher lows and dropping again.
Well, surprise. It lost the higher lows and we actually formed a double top pattern. - a bounce is expected perhaps at the 7000-7100
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