Hello,
Today i bring you another final capitulation prediction but this time on monthly chart as the price action is now becoming more interesting on a larger scale due to the upcoming world recession ahead of us.
I calculated there is a 81% chance bitcoin will go below 3411$ in this bear market.
There are only three important factors:
-Double top confirmation is monthly close below 3411$ with montly RSI close below previous low in january 2019 (marked with thin green dotted line)
-That would also prevent any possibility of a bullish divergence (both normal and hidden) and a long term bounce off that zone.
-Current price and rsi suggest there is a 81% chance a double top will be confirmed with a monthly close below 3411$ and bitcoin will drop further down to new lows.
Default target for a confirmed double top would be approx:
1280$
Today i bring you another final capitulation prediction but this time on monthly chart as the price action is now becoming more interesting on a larger scale due to the upcoming world recession ahead of us.
I calculated there is a 81% chance bitcoin will go below 3411$ in this bear market.
There are only three important factors:
-Double top confirmation is monthly close below 3411$ with montly RSI close below previous low in january 2019 (marked with thin green dotted line)
-That would also prevent any possibility of a bullish divergence (both normal and hidden) and a long term bounce off that zone.
-Current price and rsi suggest there is a 81% chance a double top will be confirmed with a monthly close below 3411$ and bitcoin will drop further down to new lows.
Default target for a confirmed double top would be approx:
1280$