The price of Bitcoin is located in a descending triangle pattern, indicating it is likely to go down in the coming few hours. A drop ranging from 5% to 8% may be seen upon breakout of the horizontal triangle support line.
If these expected lower bound ranges are seen, price is likely to slightly recover from there on, as the RSI level would be indicating oversold conditions.
If these expected lower bound ranges are seen, price is likely to slightly recover from there on, as the RSI level would be indicating oversold conditions.