Bitcoin is already in downtrend!
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
As you can see, there are some undeniable signs of a running downtrend:
1. first of all, the price chart crosses Bollinger’s moving average, which in all previous cycles leads to the continuation of the downtrend.
2. Bolinger lines “over-extended” downward, which according to previous cycles, indicates the end of the pump phase.
3. the time duration of RSI remaining in the over-bought area.
I’m waiting for bitcoin to reach between the 15k-20k range in the coming months.
