Good day Ladies and Gents. Like I mentioned in my previous idea…having a daily close under $26k would be signaling potential Bear Market territory. Now let us examine the data on the monthly. As you can see from the charting…whenever Bitcoin’s price closes a MONTHLY candle close between the .618 and .786…it enters an extended and deep Bear Market (which can be seen in the highlighted orange boxes).
Bitcoin's current price is indeed nearing the .618 fib level and the RSI is knocking on bear territory. Will Bitcoin price bounce off of the .618 fib level similar to what it did in 2013? Well, if history truly repeats itself…then we can expect further continuation to higher prices after $27k-$26k are reached?
I remain bullish …but due keep in mind of that “Bearish divergence” on the monthly. When this Bull Market ends…it will probably bring in a Bear Market like no other…umm yea.
It’s hard being a BULL sometimes lol sheesh.
Disclaimer: I'm NOT a financial adviser...just a regular "joe" voicing my opinion :)
Peace Love Money ;)
Bitcoin's current price is indeed nearing the .618 fib level and the RSI is knocking on bear territory. Will Bitcoin price bounce off of the .618 fib level similar to what it did in 2013? Well, if history truly repeats itself…then we can expect further continuation to higher prices after $27k-$26k are reached?
I remain bullish …but due keep in mind of that “Bearish divergence” on the monthly. When this Bull Market ends…it will probably bring in a Bear Market like no other…umm yea.
It’s hard being a BULL sometimes lol sheesh.
Disclaimer: I'm NOT a financial adviser...just a regular "joe" voicing my opinion :)
Peace Love Money ;)
