Altough bitcoin is hitting key long term support, i do expect a pullback to sub 7600 and basicly playing out a bullish divergengence on the daily RSI . The last two times that happened(yellow arrows) ,bitcoin rallied . Therese no such thing right now so i expect a very weak rally at first pass followed by a sharp selloff (price going sub trend line) .Higher low on RSI and breaking back above trend line is the confirmation for local bottom (price could rally)
I switched my bullish bias into neutral due to corna virus and global economy breakdown . It will pass in 2-3 months and economy will recover but a lot could happen in that period.
I switched my bullish bias into neutral due to corna virus and global economy breakdown . It will pass in 2-3 months and economy will recover but a lot could happen in that period.