Comparing BTC bull run of 2013-2017-2021..
In every bull run BTC after making a top BTC is settling below 0.78 Fibonacci level, at the same time RSI also gets accumulated, so there's a good chance that BTC may follow the same!!
Question is how do we know its a top ?
- currently if may month candle closes bearish, then evening star formation will be validated , hence beginning of downtrend , after that it may follow the same path as it followed earlier after every bull cycle!!
After BTC tests its lower trend line i.e. support zone , then it'll start a parabolic recovery and will break its ATH with great liquidity, like it did after every bull run!!
Refer closely to the chart, see Fibonacci level, RSI accumulation and then a great parabolic recovery!!
In every bull run BTC after making a top BTC is settling below 0.78 Fibonacci level, at the same time RSI also gets accumulated, so there's a good chance that BTC may follow the same!!
Question is how do we know its a top ?
- currently if may month candle closes bearish, then evening star formation will be validated , hence beginning of downtrend , after that it may follow the same path as it followed earlier after every bull cycle!!
After BTC tests its lower trend line i.e. support zone , then it'll start a parabolic recovery and will break its ATH with great liquidity, like it did after every bull run!!
Refer closely to the chart, see Fibonacci level, RSI accumulation and then a great parabolic recovery!!