Bitcoin New Low Targets...Spring has yet to come

6 авг. 2021 г.

I know many are bullish, but I like to approach all FOMOs with caution. As much as I would love to see BTC go up in value, I do believe the worst of it has not come yet. Having been in a Wyckoff accumulation, I believe we have yet to see the spring. I do foresee one last bullrun before the economy collapses, but I also see the crypto market tanking as a whole one last time. Typically there is always one last dump, (the spring) in which a new low is hit. I believe around 25-20k for BTC. As to why? RSI indicates BTC is overbought. This hints towards a reduction in price to stabilize. Although the MACD looks like a bullish move is inbound, the buy signal has not been given yet. We are still in a descending triangle pattern after all and it is unlikely to breakout with such high RSI already. Just my take, not financial advice. I am not shorting, just waiting for the spring before picking more up. Your thoughts?