๐ฅ Bitcoin Stochastic RSI Predicting DUMP ๐จ
With BTC's recent break out of the bear-flag pattern, things are starting to look bad for BTC.
In this analysis I want to look at yet another indicator which has proven to be extremely useful in predicting bearish movements in the past year.
The Stochastic RSI has, as of this week, again made a bearish cross (blue line breaks below orange line after touching 80). The previous 3 times this occurred, it precedented a bearish move, of which two were dumps larger than 40%.
Will we see another 8-10 weeks of bearish price action? Possibly. September is historically a very bad month for crypto, so I wouldn't be surprised if we continue to dump for the coming weeks.
In my view, we can dump to 10k or lower. See my worst case BTC analysis below.
In this analysis I want to look at yet another indicator which has proven to be extremely useful in predicting bearish movements in the past year.
The Stochastic RSI has, as of this week, again made a bearish cross (blue line breaks below orange line after touching 80). The previous 3 times this occurred, it precedented a bearish move, of which two were dumps larger than 40%.
Will we see another 8-10 weeks of bearish price action? Possibly. September is historically a very bad month for crypto, so I wouldn't be surprised if we continue to dump for the coming weeks.
In my view, we can dump to 10k or lower. See my worst case BTC analysis below.
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