BTCUSD
made a lower low recently in the 4H chart and the RSI shows a higher low value which means a bullish divergence. In my opinion, we can go around 8600$ or even touch the 8900$ area, but not higher. After that, I see we could go lower back to the 8k area and that time if the support won't hold we will see 7,2k in the next weeks.
I really think that's the lowest we could go anytime soon.
Of course the market could be super unpredictable these days, so in the end, who knows...
Comment:
I've done a little fine tuning in the chart above: aligned the Fibonacci retracement tool with the low from February and also added that red trend line from the low of February.
You can see in the daily RSI that we still have some room for going down, we didn't hit the bottom yet. Prepare for that case. I would bet in a ramen we'd go down to that red trend line in the next hours.
That ~6900 level is our last hope.
You can see in the daily RSI that we still have some room for going down, we didn't hit the bottom yet. Prepare for that case. I would bet in a ramen we'd go down to that red trend line in the next hours.
That ~6900 level is our last hope.
For now, that green support line from the old lows looks intact, we cooled off around ~7500. But definitely, be prepared if we hit the value around the .786 Fibonacci retracement level.
I'll do a little praying before going to bed to the crypto gods.
(Use stop loss guys, don't see sink your hard earned money.)
P.S.: Try to enjoy life, don't stress. :D