Rsi has been held below 15 for quite a few days, which has never happend for quite some times. Buyers are trying to defense 4460 (in bitfinex) but no bulls follow up to sustain the rally. In my perspective the downtrend is only paused for the moment and we will see bitcoin drops to 3500 region soon or later. However, a cool down of rsi is essential for now as bears are suffocated a little right now and need sometime to catch the breath.
Comment
⋅
To me, we might have a fake-out to the downside to 4400- level and then a rally up to 4700+ to form the bullish divergence.