MASSIVE coiled spring. Price has been falling since july 22, and has been falling faster and faster culminating in a day where we had 4x the average on both downside and upside. All this while daily has been under 50 for over 2 months, and we are seeing short term divergences on 6h and daily in strength based on .
Short term mean reversion: I like to play charts where i think the longer term adds up with short term, the selling as of late has been so fast and furious that price has been waaaay out of any moving average, even the 4ema couldnt properly track price! 4 hasnt crossed 9 in ages.
Fundamentals: To be honest these dont really matter in bticoin. but we have a CFTC meeting coming thursday, could be huge news. As always bitcoin has continued ot have good news, but that never stopped it from going down. Startups keep getting funded etc.
Might be a little late to chase now, especially if you are levereaging, but if you are a HODLER as long term holders are called in bitcoin , might be a good time to buy and just wait it out. Price targets are 380, 420, and 480.