BTC has not had a healthy correction for about 3 months now. All this time, the price did not test the BMS or drop below 50 on the RSI.
What we see now is a bearish signal of a break below 50 and a retest from below. And also a break of the trend line and a retest from below๐ป
As I wrote earlier, the ETF will start to have an impact not immediately, but closer to halving, by this time we may have a correction to 37k, or if the power of buyers turn out to be stronger than I expected, consolidation in the area of 40k.
What we see now is a bearish signal of a break below 50 and a retest from below. And also a break of the trend line and a retest from below๐ป
As I wrote earlier, the ETF will start to have an impact not immediately, but closer to halving, by this time we may have a correction to 37k, or if the power of buyers turn out to be stronger than I expected, consolidation in the area of 40k.