BTC had been going up over the past 2 weeks following a parabolic curve that couldn't be sustained. Then three things happened yesterday:
1. The 4-hour RSI reached overbought levels.
2. BTC went down and the parabola was broken.
3. BTC went up briefly today, but that may have been a dead cat bounce.
If (3) was a dead cat bounce, you may want to rebuy BTC it when the 4-hour RSI signals hits oversold levels, perhaps in 2-3 days depending on how many bounces happen along the way.
1. The 4-hour RSI reached overbought levels.
2. BTC went down and the parabola was broken.
3. BTC went up briefly today, but that may have been a dead cat bounce.
If (3) was a dead cat bounce, you may want to rebuy BTC it when the 4-hour RSI signals hits oversold levels, perhaps in 2-3 days depending on how many bounces happen along the way.
Comment:
It looks like it found support at $10,300, which is very bullish. If that support holds we might not see another drop until it reaches resistance at ~12k.
