Since last post Bitcoin has failed to find any support & price dumped to now test the 0.5 Fib level and 200 day moving average. We are currently attempting to Find support at the 0.5 Fibonacci level. Intra-day timeframes looking bloody and beaten. Bit of bearish divergence on 1hr chart. If we continue to fall next target would be around $8300.
ON A POSITIVE NOTE
We are heavily Oversold on the Daily & 4 Hr Stochastic RSI. The Stochastic blue line has just dropped out of overbought territory on the Weekly chart. In previous posts I shared these possibilities & the potential they had in playing out. Unfortunately they did. And now we all know Bitcoin is a scam ;)
Its bad day for short minded person. Thats not me.
Cheers
Not Financial Advice
ON A POSITIVE NOTE
We are heavily Oversold on the Daily & 4 Hr Stochastic RSI. The Stochastic blue line has just dropped out of overbought territory on the Weekly chart. In previous posts I shared these possibilities & the potential they had in playing out. Unfortunately they did. And now we all know Bitcoin is a scam ;)
Its bad day for short minded person. Thats not me.
Cheers
Not Financial Advice