To the moon... It'll always go up... Well it's not.
BTC (W) failed to maintain the weekly trend line from March (Green line). Volume is declining exponentially.
Resistant point formed at $45,000.
Currently in play, is a double top reversal. If BTC volume spikes in Jan./Feb. and the price fails to hold $29,000, then it could get ugly very quickly.
The orange line is BTC's lifetime trend line. If this breaks, we could see >$10,000. I suspect most of the hodl'ers that bought between March 2020 - January 2021 will be scrambling to get out.
If you have a different opinion, please post your chart or technical analysis and I'd be happy to discuss.
Guy with too many degrees.
Www.CryptoCapMgmt.com
BTC (W) failed to maintain the weekly trend line from March (Green line). Volume is declining exponentially.
Resistant point formed at $45,000.
Currently in play, is a double top reversal. If BTC volume spikes in Jan./Feb. and the price fails to hold $29,000, then it could get ugly very quickly.
The orange line is BTC's lifetime trend line. If this breaks, we could see >$10,000. I suspect most of the hodl'ers that bought between March 2020 - January 2021 will be scrambling to get out.
If you have a different opinion, please post your chart or technical analysis and I'd be happy to discuss.
Guy with too many degrees.
Www.CryptoCapMgmt.com
