So much confluence took place at the 11.7k level
Kumo cloud support
Kijun support
Green box from past price support
Bollinger band support
What we saw was a shooting star doji play out due to all the support built up at that level and what I am looking at now is the significant bearish hidden divergence that has formed with the RSI and price. Hidden divergences are continuation of trends and BTC is still in a downtrend. Price is making lower highs however RSI has made a significantly higher high.
Price expectation for me is to see BTC drop to the 8.8k-9.3k level.
Kumo cloud support
Kijun support
Green box from past price support
Bollinger band support
What we saw was a shooting star doji play out due to all the support built up at that level and what I am looking at now is the significant bearish hidden divergence that has formed with the RSI and price. Hidden divergences are continuation of trends and BTC is still in a downtrend. Price is making lower highs however RSI has made a significantly higher high.
Price expectation for me is to see BTC drop to the 8.8k-9.3k level.