Right now we are sitting on a very intresting turn. RSI (4h) is very bullish atleast short term and the pattern formed is straight Bear. Right now it very hard to pridict what is going to happen. In my opinion even if we have a drop it must not drop 3100-3200, as 4h RSI will break the chart in hat case. lolx. But intrestingly daily RSI has a lot of space for drop aleast till 2800-2900. So right now we will expect a small drop may be till 3450 and than a small bounce with highly sensitive RSI in upwards direction (a hobbit level Bull rally) and than eventually a fall below 3000 in next 2 weeks but there is no sign of a bull rally in forseeable future. Best of Luck! .
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Comment:
As pridicted, The price fell below 3490 (on Bitmex) and then a jump till back with highly sensitive RSI. In my opinion the price will move up again before having a major fall. But Bulls are still far faaaar away from having control. Below you can check how sensitive RSI have been in comparison to prices before fall .Now , at 3800, we have the same RSI level as at 4140. Rest is your judgement. But you can probably enjoy a small rally till 4050.....May be ! but no higher.
Comment:
Just a correction, i pridicted the price will fall max till 3450 and it fell to 3490 !