I predict that if the price does not stabilize at the current level for tomorrow, we will see the designated areas in order.
And this is not a bad thing, because this market needs this correction to achieve higher goals ($ 100,000)
Bottom line: This reduction is temporary and will last until the end of November
COINBASE:BTCUSD Daily RSI is showing bearish divergence and has dropped to 20. Historically, daily RSI dropping below 20 has been a highly reliable short signal. The last 5 times daily RSI broke below 20 price drops ranging from $1091 (10.46%) to $5069 (56.78%) followed.
More cautious traders can wait for confirmation with downward break of the lower pennant...
As mentioned on the related idea, it's a good time to stay on the sideline, as the overall situation and overall markets are quite unpredictable.
We absolutely need to hold the current level of 5900$ (not close below it in the hourly chart). I know the timeframe is low.
We are in a pretty ugly wedge-situation IMO. If we are lucky, we may have the chance to get a...
