has been on fire. The weekly RSI
is at levels not seen since the December 2017 $20k top. This is an idea based on the BTC
60-day cycle. The RSI
is showing Bearish
Divergence, which could signal that buyers of BTC
are becoming exhausted at these levels. Based on the 60-day cycle and the bearish
divergence, there is a possibility that BTC
will pull back to previous support and resistance
zones. The resistance zone
I am watching is the $6,000 - $5,800 zone.
Of course, BTC
is wildly unpredictable and it could continue on its tremendous Bullish
run and find higher highs as it charges on.
Either way, my strategy is to HODL, and if given the opportunity - BUY THE DIP.