Btc is getting to a critical level: it's about to reach a triple bottom. I believe the support is 6000... That's where we rebounded in February. Way too many people are expecting 6500 to be the point where we bounce back, and that's the issue: I need another dump -an opportunity to scare off most people; we have way too much trust in this resistance level.
Another reason I that makes me think bears will be in control for a while is the fact that ETH has been following a pattern since February 2017. This trend line has been touching all the bottoms since (use weekly chart to confirm.) this trend line will touch 450 on June 30th and that's why I think we'll bottom in a couple of weeks. If anyone wants to analyze it further please go check my last post.
That said I realize that the RSI is very low as of today and probably we'll not keep dropping tomorrow, or for the rest of the week, but this depends on market sentiment and what bots will do.
Another reason I that makes me think bears will be in control for a while is the fact that ETH has been following a pattern since February 2017. This trend line has been touching all the bottoms since (use weekly chart to confirm.) this trend line will touch 450 on June 30th and that's why I think we'll bottom in a couple of weeks. If anyone wants to analyze it further please go check my last post.
That said I realize that the RSI is very low as of today and probably we'll not keep dropping tomorrow, or for the rest of the week, but this depends on market sentiment and what bots will do.