In last few weeks, we see a clear channel for BTC in between 200 EMA ( upper limit ) and 200 MA ( lower limit ) as per weekly chart. In this bear market, we still don't see any catalyst to attract high volume. This is a bad sign for crypto market. RSI is also high as of now and it's nearing oversold area. This is similar to where BTC stuck around $6xxx range for many weeks and BTC dropped much. I think same thing will happen again in upcoming weeks. We will see new lower values like $2600 or even $1800.
Comment:
Correction: **** RSI is also high as of now and it's nearing overbought area
Trade active:
Interesting days to watch upper line. BTC is touching 200 EMA of weekly line.
Trade active:
This is still valid. BTC is not moving much.