Hello everyone, so looking at the weekly timeframe, the price of Bitcoin is still below the 200-moving day average. The stochastic RSI is still oversold, meaning that I am still bearish on Bitcoin. On the other hand, today is July 1st, a brand new month for Bitcoin. Also, it's now Quarter 3 for the economy. Fears of recession and inflation are still looming, as we...
Looking at the weekly timeframe of Bitcoin, it looks pretty bad!
Bitcoin is officially below the 200-day moving average, and the last time we saw that was during the Stock Market/Crypto Covid crash in March of 2020.
Also, Bitcoin fell below the $25,755-$27,300 level, so the next support level would be $22,000-$23,000. If somehow and someway Bitcoin falls
below...
Theres a possibility this 1w oversold BTC candlestick can recover the 200ma its been holding. Similar to the highlighted candle in 2020 that recovered the moving average smoothly. The oversold RSI indicates this is a potential buying zone. Take a look at the BTC Rainbow Chart online and give me your thoughts, it indicates "A fire sale!"
BTCUSD at 3D timeframe we can see clear is OVERBOUGHT
BTC tried to push through ichimoku resistance cloud but failed and now they need to retrace to gain some FUEL. We have a bearcross at stochastic and the buy pressure slowly going down.
Why is my target around 35-36-37xx? Because there is the 200MA weekly support line
In my opinion BTC was bottomed,but we need...
