RSI Bearish Divergence and 200MA Death Cross On Monthly Chart
Is this the mother of all crashes, not looking good for Bitcoin on the monthly chart. Bearish RSI Divergence formed, entry on the 50 level cross of the 5 period RSI. Price action failed to close above previous high of $64899 on 2 separate occasions, which normally means it is a strong level of resistance. If the support level is broken at $28800 (Jun 21 Low), next stop is at the $20000 level.
Note
Could the Fib 1.618 level be reached in this down trend, strong possibilty I would think as this is a strong downtrend.Note
Fib 1.618 level next stop once price breaks through the 1.2 level, buckle up
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.