If the risk on move continues in the markets,
As/if the DXY continues to weaken,
BTCUSD may find it's bottom.
The RSI (blue) and Ultimate Oscillator (red) downward trend -
defined by an upper trend boundary line -
May be crossed to indicate the end of a the declining trend in crypto/btc.
This may not indicate that there is a strong reversal in price direction.
There is still room for a longer period of sideways volatility. (A time capitulation.)
I'm not actually saying all that much here... just noticing that the current trend reversal, if it continues, will be significant, forming longer term RSI point of inflection.
As/if the DXY continues to weaken,
BTCUSD may find it's bottom.
The RSI (blue) and Ultimate Oscillator (red) downward trend -
defined by an upper trend boundary line -
May be crossed to indicate the end of a the declining trend in crypto/btc.
This may not indicate that there is a strong reversal in price direction.
There is still room for a longer period of sideways volatility. (A time capitulation.)
I'm not actually saying all that much here... just noticing that the current trend reversal, if it continues, will be significant, forming longer term RSI point of inflection.