Are we at the end of the Bitcoin bull market?

21 апр. 2021 г.

This is the question everyone has at the moment. Can we answer it? Not yet. The weekly chart shows a clear intention to turn bearish, which is not a positive sign. However, this happened during the 2017 bullrun as well, so it could still bounce and become the final phase that really blasts through $100,000 and maybe even through $200,000. The question is whether we are going to see a dual peak RSI as we have seen in the previous bullruns. I am inclined to say yes, but this is purely based on history, which gives us no certainty. What gives me confidence is that 64K looks nothing like a blowoff top. We haven't seen the buying craze that we saw at the end of 2017 (I sold at $14,000 before it went to almost $20,000 at the time). I am thus inclined to favor more upside, but it is always best to wait for buy signals on the daily chart to get back in. At the moment, we don't see them yet.