Massive sell coming on Bitcoin in my opinion

22 Okt 2023

Hello traders this is my overall Analysis done on Bitcoin. Now I know alot of people are saying bitcoin is going to rise and that would be really good news for crypto holders. But as you can see here in my drawing I've marked out a Weekly Bearish Rising Wedge Pattern and we can see a clear break on the weekly time frame and proce has been consolidating under the outside of the Wedge pattern for a few months now. My second confirmation is we have found a solid Resistance/ Support level at 31000 level multiple strong rejections here. Also if you look at the daily time frame you can see structure is starting to turn bearish, the 4hr is starting to go bearish, 1hr is bearish and so on as you go down the time frames. My prediction is Bitcoin could go back down to 150usd. But time will tell.