Weekly RSI in a bull market always finds support at 54 and we always touch the 21 weekly moving average which is sitting around 7.4k as of now. I believe this drop will last 1-3 weeks so I expect us to be around 7.4k in early or mid august.
See my other idea where I perfectly predicted the drop to 9.4k and consolidation in July!
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Didn’t take too much into account for how rapidly the 21 weekly MA was rising, i suspect lowest we will reach in the next month or so is 8.2k, though, I am not personally risking it by taking this trade since there’s a lot more potential upside within the next year. Patience.
Trade closed: target reached
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8.2k reached, this is a once in a lifetime opportunity to buy bitcoin now. I think 19k by April 2020.