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🚨Bitcoin is about to face the 78,000 pressure level, and the top is forming normally!
I waited a long time and finally got to this point. During this period, the market has kept fluctuating, ranging back and forth, shaking out longs and shorts and taking losses, and the same is true on the long side.
Currently, BTC price is nearing the downward flag upper band resistance of the 7.8-day moving average line. No matter what, I’m going to short one position here. I already entered my main position at 768. After that, I’ll add to my short positions in batches at 77-78-79.
Why am I certain that the upper band of this flag will form a top? Look at the daily RSI—it has already entered the severe overbought zone. The price is making new high values, but it doesn’t. Also, the MACD is the same: its current peak is lower than the peak value of the previous price high.
On smaller timeframes, it might not be very precise, but with this kind of divergence in a larger timeframe structure chart, aren’t you afraid to short? For ETH this time, I will also enter the market and short in batches at 2480-2540……$ETH $BTC