Analyst Captain Faibik presented a Bitcoin chart that raises concerns about a potential price correction. His findings are based on current trends and indicators.
Signals from Bitcoin Chart
According to Captain Faibik, Bitcoin, currently trading just below its recent highs at $104,000, may have peaked. The charts indicate that while Bitcoin’s price continues to rise slightly, the Relative Strength Index (RSI) is showing a decrease, signaling weakening bullish momentum.
Forecast for Possible Correction
Faibik predicts that the price of Bitcoin may drop to the $92,000–$94,000 range. He points out that this is not a crash, but a significant correction. The graphs also show the formation of a slight bullish rising wedge, which often precedes a price breakdown, especially when combined with signals from the RSI.
Importance of Signals in the Market
For traders and investors, this is a signal of a potential decrease in bullish momentum. If the momentum continues to fade, Bitcoin could lose support and trigger a wave of selling. Captain Faibik emphasizes the importance of being cautious in the current market.
Overall, the current state of the Bitcoin market calls for careful analysis. A fall to $92,000–$94,000 may be a necessary correction before any future growth.
