Technical analysis by Kyo026 about Symbol BTC: Sell recommendation (9/2/2021)

1YRSI is trending down and almost oversold.MFI is trending down.5YRSI is overbought.MFI is trending up, but in an longer downtrend.ALLRSI is almost oversold.MFI is trending down.Notable Dates:2011 about 95% correction from top.2013 about 84% correction from top.2017 about 84% correction from top.A Wycoff Distribution appeared before the most recent drop. Prediction: I think we can see about a 95% drop from the top around 64,000. That would make the bottom around 3,000, but I think it could overextend. I believe we will see a very deep recession, maybe a depression in the economy and that would make this Bitcoins first experience through one. So I think a greater than 95% correction is possible in this event. Ultimately falling around 1,200 on a support from the start of a run back in March 2017. This is a long term call (longer than a year).For my educational purpose, not to be used as financial advice.Watch out.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?srnd=premiumtheverge.com/2021/10/15/22728253/tether-41-million-misleading-statements-fiat-currency-bitfinex-cftcVolume is super low right now.More downside coming. 5Y RSI is overbought.We have evergrande bankruptcycnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.htmlAnd an address buying $3 trillion (118,000 btc)x.com/rovercrc/status/1693892455785955587?s=46&t=R0ivzMnZs2uEIgO9fs-S4QConflicting articles, but we may be looking at a bottom.Stoch RSI on the 5 year and ALL timeframe haven’t reversed yet. Until it does it may fall a bit or hold low while RSI plays out.Stoch RSI on all timeframes is looking bearish. A correction is coming.