Chances are Bitcoin will see mid 30s
Bitcoin has been quite stubborn over the last 6-7 months with false breakout after false breakout above the previous cycle ATH. Currently the daily and 2 Day Ichimoku have turned bearish. We also have a death cross on the Daily SMA's and it seems we are about to get the same on the Daily EMA's. We have a set of lower highs and lower lows and have entered a confirmed bearish correction.
The weekly RSI is sitting below 50 which is bearish territory and the 2 week and 3 week MACDs have crossed over. These MACD crosses have signaled deep corrections in the past.
Price is currently finding support on the weekly 50 EMA and a descending trendline support that has triggered strong responses in the past. However this bounce seems very weak and I expect price to break down from here.
I expect price to retest the lower macro trendline/trend golden pocket in the mid 30s before we see a bullish continuation to the upside and a peak price in September/October of 2025 of around 250k.
The weekly RSI is sitting below 50 which is bearish territory and the 2 week and 3 week MACDs have crossed over. These MACD crosses have signaled deep corrections in the past.
Price is currently finding support on the weekly 50 EMA and a descending trendline support that has triggered strong responses in the past. However this bounce seems very weak and I expect price to break down from here.
I expect price to retest the lower macro trendline/trend golden pocket in the mid 30s before we see a bullish continuation to the upside and a peak price in September/October of 2025 of around 250k.
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