Trend Precognition Issues Bearish Signal on Bitcoin

Bitcoin's recent price action has triggered a bearish signal from Trend Precognition, indicating that the cryptocurrency may be due for a correction. The signal was prompted by Bitcoin's rejection at the yearly open Timescape R/S Flip line near $87.5k.

The indicator initially showed a weak strength score of 35 before climbing to 45 after a short squeeze pushed prices to $87,272.

While price holds above the EMA50 and EMA200 in a bullish structure, the MACD death cross signals fading momentum, and the RSI remains neutral at 54.08.

A clear warning against chasing candles has been issued, with risk best managed near range boundaries. A higher high would invalidate the signal, while a wick below $82.8k targets deeper support between $75k and $79k.