Good day everyone,
if we compare the the weekly BTC RSI on Bitstamp we can see that in the past
we formed a descending wedge and printed 5 Waves down to finish the bear cycle.
Now we are closing in on the RSI resistance again which could lead to a possible rejection.
Keep in mind that this is on a weekly timeframe so the price itself has still a lot of room to play.
This, aswell as my other BTC past and present analysis tells us that the last and final 5th Wave of the bear cycle can soon be initiated.
Not preparing at all is preparing for failure.
- Benjamin Franklin
if we compare the the weekly BTC RSI on Bitstamp we can see that in the past
we formed a descending wedge and printed 5 Waves down to finish the bear cycle.
Now we are closing in on the RSI resistance again which could lead to a possible rejection.
Keep in mind that this is on a weekly timeframe so the price itself has still a lot of room to play.
This, aswell as my other BTC past and present analysis tells us that the last and final 5th Wave of the bear cycle can soon be initiated.
Not preparing at all is preparing for failure.
- Benjamin Franklin
