Bitcoin Is More Precious Than Gold!
Last Updated on October 24th at 1:04 PM GMT Time
We mentioned in previous reports that technical analysts find difficulties in analyzing the deadline of the fifth wave due to its characteristics and to the psychology of the traders. However, we expected a stop for the bullish rally due to the Strong historical trend line within the five bullish runs.
The Series of the lower highs and the lower lows on the daily chart accompanied by the creation of the Bearish candles sticks on the daily chart warns for a topping scenario especially if we see a close under the $5469.
A close under $5469 will create a bearish-selling pressure especially if this breakout confirmed with a clear selling signal on the Moving Average Convergence Divergence. The Relative Strength index started to have a confirmation of a double top formation enhanced with a cross-selling signal from the stochastic oscillator.
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