🅱️ Bitcoin Short-Term (1H Timeframe)

Looking at the higher timeframes, it is absolutely clear that Bitcoin is going down based on everything the chart has to say... So let's do a flip and look at Bitcoin short-term.

No secrets here... The charts are open for everybody to see.

➖ BTCUSD peaked recently, just hours ago —11-Feb. 20:00.
➖ The RSI peaked 7-Feb. 20:00. That's four days ago... Seeing that this is a short-term timeframe, this signal can be worth weeks or months if we compare it to a higher timeframe since each day has 24 candles.

➖ The RSI is now weak/bearish with a reading of 44, this is happening as Bitcoin is trading at a multi-year high... And this only happens preceding a drop.

Looking at the daily, weekly and monthly timeframes, we know the next major move is down because Bitcoin already exceeded its capacity to grow. Now looking at it short-term, we have confirmation of the same.

The market is moving down and that's great, this will produce an opportunity for new players that missed out to enter the game.

Look at the bright side, wouldn't you want to have a chance to buy Bitcoin at 20/30K if you suddenly saw it trading near 50K?

That's the situation many new players are now in, they want to buy Bitcoin, but they consider the price is too high... This incoming correction will correct this... So feel free to sell, BlackRock and the rest will buy at the top, while we buy cheap... Really?

I don't know about you but this will definitely be the case for those who follow me.

Namaste.

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A new high has been hit... We move back to higher timeframes.