The last time Bitcoin's RSI fell below the critical 30 level was 5th Feb, when the Stochastic RSI also indicated selling momentum was exhausted. That event immediately proceeded a rally taking BTCUSD from 7000USD to 11000USD in just 12 days.
The BTCUSD RSI, Stochastic RSI and candlesticks are all lining up to replicate that event almost exactly. Expect a further day of losses tomorrow, likely down to the long expected 6000USD level as the RSI drops deeper, before the rally up begins April 3rd.
Hit the thumbs up if you found this informative, I will keep you updated as the market develops! And if you disagree, please tell me why in the comments below - all feedback welcome. Thank you!!
This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.
The BTCUSD RSI, Stochastic RSI and candlesticks are all lining up to replicate that event almost exactly. Expect a further day of losses tomorrow, likely down to the long expected 6000USD level as the RSI drops deeper, before the rally up begins April 3rd.
Hit the thumbs up if you found this informative, I will keep you updated as the market develops! And if you disagree, please tell me why in the comments below - all feedback welcome. Thank you!!
This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.