Why Bitcoin about to crash ist real or only deal? why its need to touch the lowest price?
Who is behind the buy pressure in the time it's need to be down?
Ist the time to buy or sell btc?
Let's see how by analyze 2023-2024
Bitcoin started the year 2023 with a notable rally, driven by increased institutional interest and broader adoption. It reached several peaks during the year but also faced significant corrections, reflecting overall market volatility.
Late 2023: As Bitcoin approached the end of the year, it formed a "round hill" pattern, indicating a potential peak in price before a downturn.
Round Hill PatternThis pattern typically indicates a gradual rise followed by a rounded peak. In the context of Bitcoin, this suggests a peak reached in late 2023, followed by signs of weakening momentum.
- The price action at this stage may show a plateau or slight decline, signaling that the market might be preparing for a correction.
- RSI (Relative Strength Index): If the RSI is above 70, it indicates overbought conditions, suggesting that a correction might be imminent.
-Moving Averages: Look for crossovers, such as the 50-day moving average crossing below the 200-day moving average, which can signal a bearish trend.
As we move into 2024, watch for macroeconomic factors, regulatory developments, and technological advancements in the crypto space. If the market sentiment remains bearish from the previous peak, further corrections may occur.