Quick and dirty analysis coming in.
BTC just hit a 3 week diagonal resistance. For the bulls it's going to be a make it or break it moment. If we can close the day above 29.8k we can make the assumption that the relative bearish times are over.
However, we're not there yet! Stocks have sold off hard today, which makes it more likely for bearish price action. In addition, the hourly RSI is quite overbought at the moment. Wouldn't be surprised if we reverse from this point onwards.
Too early to be bullish. Aggressive bears are shorting here, will they be right?
Discuss your views below 🙏
BTC just hit a 3 week diagonal resistance. For the bulls it's going to be a make it or break it moment. If we can close the day above 29.8k we can make the assumption that the relative bearish times are over.
However, we're not there yet! Stocks have sold off hard today, which makes it more likely for bearish price action. In addition, the hourly RSI is quite overbought at the moment. Wouldn't be surprised if we reverse from this point onwards.
Too early to be bullish. Aggressive bears are shorting here, will they be right?
Discuss your views below 🙏
Comment:
Oof, back in the range. Stocks are dragging BTC down.
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