- The trend is clearly descending and there is absolutely no sign of a trend reversal at this moment. The bears are extremely strong and I don't see any hope for a greater bullish price action.
- However, we can definitely experience a relief rally back to 21300 USDT and even break the trendline temporarily, where everyone can get caught like a deer in the headlight?
- On this daily chart, we can spot a descending triangle, and we can go sideways for another month and consolidate in this descending triangle. I would not be surprised at all if this happens.
- After the price breaks the triangle, I expect 12500 USDT as a potential reversal point. I think this crash will be very fast and will be followed by a huge bullish candle, so you want to set your limit orders to catch this upcoming flash crash.
- November and December can be very bullish months for Bitcoin, so you don't want to miss it at all cost.
- The good news is that the stock market and gold are already crashing while Bitcoin is relatively strong, to my surprise.
- On the 4h chart, Ethereum also shows a sign of a temporary relief uptrend, as does XRP and other altcoins.
- For more analysis, hit "Like" and "Follow"!
