The weakening momentum and penetration of the Ichimoku cloud marked the end of the bull market. The bearish RSI divergence was a reliable signal. The oversold RSI is still not as low as the March 2020 crash and could have more room on the downside. The VPVR on the right are areas where most trading activity take place. The longer the horizontal bars, the stronger the support/resistance . And vice versa. If Bitcoin fails to penetrate and stay above the 200 MA and $30K becomes resistance, the CME gap at $24K is likely to get filled. Though I wouldn't be surprised by dead cat bounces above the 200 MA. But WTFDIK.
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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.