$3,400 is the place where a bounce is a must to prevent further carnage. There is confluence between the bounce area and the daily RSI. Aside from the mid-December drama, the RSI support line was respected throughout the 2018.
It is possible that the same line will mark the new sideways support in 2019, thus probably meaning that the bottom is more or less in. In...
Decision-time for bitcoin is upon us. Either we see some sort of a bounce soon or we enter the double-bottom or even sub $3K terrain.
Nothing is ever easy. With a bullish divergence forming according to MACD, it is quite possible that BTC will shoot upwards before entering the real demand zone (buy volume is still low).
However, there is strong resistance...
