We get one red day and we call it the end of the of it all... Remember, patience, Bitcoin is moving back up.
Looking at the 4H timeframe so far we have a "V-shaped" drop and also a strong bounce, these signals can tell us of a potential recovery.
Prices moved below EMA300, the grey line on the chart, just to quickly move back up.
This can be seen as a strong shakeout, a long-squeeze, a correction, etc... The important part is to see prices resume growth.
The signals are good so far.
If we look at the , Bitcoin remains trading above EMA50 which is good.
If this level breaks, then bias can change.
For now, Bitcoin continues to look great.
Bitcoin is very likely to follow Ethereum (ETHUSD).
Ethereum just hit a new All-Time High, see below:
🟦 Ethereum (ETH) Weekly | $3440 & $4000+ If $2500 Breaks...
🟦 Ethereum (ETH) Moves Ahead, Back Above EMA10 +Altcoins Update
Thank you for sharing.
RSI getting to bottom of range...MAYBE one more down then i expect a run