BTC confirmed this week that it does not want to follow the trendline which was still slightly bullish , confirming a red candle that completely breaks the trendline hitting 35.2k, a price that we have not touched with decision since January.
On the weekly only one positive thing can happen that we all hope for, the fact of seeing a false weekly breakout which would only be confirmed if we recover 40k next week, eating these candles with high bearish volumes which led us to the penultimate support of the 35k.
Right now we are creating HUMMER Candlestick patterns which are absorbing the bears and could form a new bear flag which this time we have to break to make it, hopefully a kidney shot!
If this recovery to 40k does not happen then we could easily reach 32k at the last support, after which the hopes of recovery have vanished.
The thing I don’t like is that the RSI is not going down even though there are price drops, the 38k from a few days ago has the same RSI value as this week’s 36k .