Hey everyone, QUICK update from the indicator. Today we saw our FIRST Bitcoin sell signal on the daily chart since October 11, 2023.

Bitcoin Sell Signal

For the past 5 weeks we’ve talking about price going up & hitting longer-term target 4 of 4 and then a possible retracement lower for the next buy the dip scenario aka lower prices.

1. Price did hit target 4 & reached $49,000.

2. Since reaching $49K, we saw an ugly bearish candle & now on the next day we saw a sell signal.

Bitcoin

Quick recap: The monthly chart is still bullish, the weekly chart is still ultra bullish but signs of a reversal, & the daily chart flipped bearish. This signals us a shorter to mid-term correction for the next possible buy the dip scenario within a longer-term bullish monthly chart.

Case for the short-term cute & cuddly bears:

• Bearish divergence on the daily chart since November 1st

• Price was overbought on daily & weekly chart

• Price is extended far away from the trending dots

• RSI Sell Signal on daily chart

• 3rd MACD bearish crossover with no correction so far

• Actual sell signal ✅

We’ve added some charts & a video update below. 👇

Recap: Monthly chart is still bullish, weekly chart is currently bullish but weekly candle is looking bearish, & the daily chart is now bearish.

We could see prices retrace to:

• Sub $40,000

• Sub $38,000

• Sub $35,000

• and as low as $30,000

Obviously price could always go lower but then something would be off in my opinion and we’ll continue to take it level by level.

QUICK 15 minute Bitcoin video update:

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Disclaimer

The contents of this newsletter are expressed in my opinion only, none of which is financial advice. Always do your own research as this information is intended for educational & entertainment purposes only.

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