![]() ![]() According to him, the most probable outcome is a downside impulse move, characterized by a large sell-off candle with no relief. Possible Outcomes and Educational InsightsĬold-Blooded Shiller concludes his thread by outlining the most likely scenarios for Bitcoin’s future. Once they are lost, the price action tends to move quickly, often leading to painful outcomes for traders. Shiller provides examples of previous instances when the market structure broke, emphasizing how protected these structures can be until they are lost. However, if these lows break, the price action could move quickly, leading to a sharp decline. Market structure provides some of the best defense points, offering excellent risk-reward (RR) ratios for long positions near the last low. ![]() The famous Twitter analyst then moves on to discuss the market structure of Bitcoin, which he describes as an uptrend hanging by a thread. At present, this divergence has not reached its climax, indicating a potential shift in momentum. Shiller explains that the divergence won’t be “played out” until the AO crosses to the opposite side of the midpoint. The Awesome Oscillator also shows signs of divergence, which has always been in an unusual spot. Shiller compares the current RSI and Awesome Oscillator (AO) levels on Bitcoin to those of the Nasdaq ($NQ) back in January 2022, noting a striking similarity. This is a critical measure of who controls the market and where the stronger moves are likely to occur. For the first time in 2023, the RSI’s midpoint appears to be in jeopardy. The Alarming State of RSI and Awesome OscillatorĬold Blooded Shiller highlights the Relative Strength Index (RSI), a crucial indicator measuring price movement speed and change. Known for his incisive insights and educational breakdowns, Shiller warns that Bitcoin’s momentum and trend could be on the verge of a significant shift to the downside. Renowned technical analysis expert Cold Blooded Shiller recently took to Twitter to share a comprehensive thread on the concerning state of Bitcoin ($BTC). ![]()
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