Her chart shows Bitcoin completing what appears to be an ABC corrective wave structure, with the price tagging the top of the (C) wave around the 0.382 Fib level. At the time of writing, Bitcoin is trading at $77,655. The projection is that it will reject anywhere between $79,000 and $81,000 before embarking on a large drop to another macro Fib level.
TARA pointed to another technical warning found in a price momentum indicator. The RSI on mid-timeframe charts is already printing bearish divergence, meaning that as price pushes higher, momentum is declining. At the time of the analysis, the indicator was at 65.47 with its signal line at 61.02.
