Technical analysis by MonetaryRebel about Symbol BTC: Sell recommendation (16 hour ago)

(On the Daily Chart) 2-3 days ago, Bitcoin officially broke down and out below the upward channel it has been in for over 1050 days. It broke down from the channel, retested the bottom of it, and now is continuing downward to make a lower low today. THAT IS BAD. Muy malo. Sehr schlecht. Molto male. The RSI is also confirming a break to the downside. This time frames match with prior cycles. Potential correlation to halving cycles is noted. Note: The 2 year expansion and contraction cycles are exponential in growth while if you look at them is totality, the upward trend shows a logarithmic curvature when you connect the highs from the last 12 years. IF, This is a normal bear cycle pullback like the last few, we'll see 30k. (Yellow Path) We can't really know for sure, so it's silly to anticipate for this, but as an alternate case, IF, This is the end of the larger cycle, meaning the end of Act 1, where crypto doesn't bottom until it is announced dead in the newspapers, then just set a reminder in 5 years to check back unless you want to swing trade the thing with massive volatility. (Red Path)