BITCOIN POTENTIAL REHERSAL
Don't take my words seriously it's my personal opinion.
Multiple factors working together right now.
Negatives-
1) Trend line matching the exact point where previous reversal happened.
2)200 daily moving average resistance (not shown cause chart would be too cluttered).
3)CME gap which took place during market crash.
4) previous resistance levels in large timeframe.
5) Rising channel in lower time frames
6) Last 2 bull run patterns
Maybe evening star pattern can also form later
Positives-
1) Most of the important resistance are now below
2)Mass adoption and awareness
In these cercumstances most of the time market goes down as we become emotional.
We all want bitcoin to go up but it's a slow journey.
Hope these will help someone.
Multiple factors working together right now.
Negatives-
1) Trend line matching the exact point where previous reversal happened.
2)200 daily moving average resistance (not shown cause chart would be too cluttered).
3)CME gap which took place during market crash.
4) previous resistance levels in large timeframe.
5) Rising channel in lower time frames
6) Last 2 bull run patterns
Maybe evening star pattern can also form later
Positives-
1) Most of the important resistance are now below
2)Mass adoption and awareness
In these cercumstances most of the time market goes down as we become emotional.
We all want bitcoin to go up but it's a slow journey.
Hope these will help someone.
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