As i was talking about previously btc has begun a slight pullback out of the bottom of the wedge and we got a bounce today around 30K which has held us up so far, we could still see that 28K level i was talking about before, there is still lots of bearish momentum pushing us down. There is a chance that we start to recover but i wouldn't go that far yet especially without a successful retest of the 30K level we bounced from today. we are still in a very dangerous spot as our candles are riding the bottom of the bollinger bands which almost always gives us some downside, we havent really seen a big drop along the BB's but like i said this pullback could still be going on and waiting will be the only thing that can provide those answers. The RSI has dropped pretty hard aswell with us not even coming back to the uptrend support to retest it. we are getting closer to the oversold area but still have a bit to go, thats another reason i think we could still see some downside which would more than likely push that RSI into the oversold area before then coming back up with price. The Hash ribbons aswell are still extending in this capitulation phase, and for the real bull run to start back up again i personally have to wait for these hash ribbons atleast finish the capitulation cycle but ultimately print that legendary buy signal, at that point i would be fully confident in a btc and full crypto market recovery and ultimately the next leg up in this bull run! Not financial advice just my opinion!
