Oversold has been activated

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
29 2 0
The prices have broken under the first level of support of $1631. Nevertheless, there is one more strong support at the price $1303 (around). Therefore the price will continue going down, as well as the leaning line shows this movement is compelling.

Moreover the prices have been entered to oversold zone related to RSI indicator. As we know once the price is inside this zone the pull back is coming. We don’t know how long the price could stay in the oversold zone but what we can infer, for sure, it’s the bitcoin             price falls until the second support of 1303 and after that, the pull back.
Great analysis. Let's see how it goes.
Not $ but cny
+1 Reply
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