Time is against the bears, they are losing strength. The longer we stay on those levels, the less likely we are to find a new botton.
It is possible that BTC has already touched the botton in the weekly RSI in JUN-2018. (70% -30%).
The last time this happened (JAN-2015) the BTC walked sideways until breaking a major resistance (NOV-2015) and start a bull run.
If this is confirmed, we will walk sideways until we break the resistance of the 11k (ish), which may be in late 2018 or early 2019.
Trade active:
Weekly RSI is making higher lows!!
This is a good sign that this point in the chart (JUNE 2018 - RSI at 41,35) was the botton;
Today (November 06), weekly RSI is at 45,42 and increasing;
After we reached the RSI botton in 2014, the price of BTC consolidated and the RSI made higher lows as we we are doing now
Idea is active, we need a jump to initiate a bull run!!
This is a good sign that this point in the chart (JUNE 2018 - RSI at 41,35) was the botton;
Today (November 06), weekly RSI is at 45,42 and increasing;
After we reached the RSI botton in 2014, the price of BTC consolidated and the RSI made higher lows as we we are doing now
Idea is active, we need a jump to initiate a bull run!!
Weekly MACD is turning positive.
Weekly MA20 is 7100 ( 0.786 fib)
and Day MA20 is 6740 ( 0.5 fib)
This idea is still super active!!!