Bitcoin can go into an imminent correction mode for “ weeks and weeks '', according to analyst Willy Woo – This is why
The veteran analyst on the Willy Woo channel says Bitcoin (BTC) is about to move in a long correction phase.
Woo said to its 1.2 million followers on the social media platform X that BTC has until Monday to avoid printing a downward divergence on the weekly graphic.
A downward divergence occurs when the price makes higher peaks, while an indicator as the relative resistance index (RSI) makes heights lower, which suggests that an asset loses an bruise momentum.
Said woo,
“Dear Mr. Bitcoin, you have [until Monday] To rally or you will print a downward divergence on weekly graphics and then we will be bored for weeks and weeks.
Using data owners of its Bitcoin analysis company, the Bitcoin vector, Woo says that BTC seems to be strong, but can be “equalized” after rallying faster than usual the previous months.
“Our Bitcoin vector frame remains strong despite the decline.
What is happening is technical resistance in the form of a bearish divergence that takes place against fundamental solids. Basically, BTC ran faster than normal and equalizes. »»
While many traders still bet on the cycles of four traditional years based on the wandering of half, Wooo said The BTC is increasingly linked to external macro-comments, and these predictable cyclical price models now belong to the past.
“The BTC is a global macro of this cycle. This means not necessarily betting on well -maintained four -year cycles. BTC is in transition.
The internal forces, the Halven, become weak and the powers of global liquidity BTC – therefore, the BTC becomes the canary of the coal mine for world macro movements. »»
When writing time, Bitcoin is negotiated at $ 104,737
Follow us X,, Facebook And Telegram
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Image generated: Midjourney
