[Bitcoin] bear market signals (update)
Currently we have several bearish signals :
- a great wave of Wolfe , bearish
- a very clear bearish MACD divergence
- a strong resistance area around $60K
- a regular increase in institutional short positions (COT report)
- a significant drop in volumes
- a huge bearish RSI divergence in weekly
- a MACD bearish cross in weekly
- regulations and taxes are in preparation
If a strong decline starts in the next few days, from my point of view there will be a real likelihood of a market reversal.
This publication is a trend hypothesis.
- a great wave of Wolfe , bearish
- a very clear bearish MACD divergence
- a strong resistance area around $60K
- a regular increase in institutional short positions (COT report)
- a significant drop in volumes
- a huge bearish RSI divergence in weekly
- a MACD bearish cross in weekly
- regulations and taxes are in preparation
If a strong decline starts in the next few days, from my point of view there will be a real likelihood of a market reversal.
This publication is a trend hypothesis.
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![[Bitcoin] bear market signals (update2)](https://s3.tradingview.com/w/wxo8vm7J_big.png)
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$37K reached
