ivan1337

ivan1337

Bitcoin is reaching a very critical support area with a strong support in the 6800-7800 region which matches up with a longterm upward trendline. RSI is bottoming out so we should see a rebound, but will it continue upwards?

ivan1337

We can see a very strong support at the $6700-$8000 area. This area also matches up with a long-term upward trendline and the RSI is bottoming out. Looks to be a good buy zone, but we will have to break through the down-trend line to not continue dropping down further after the bounce. Be cautious as we could just bounce right back down off the big down-trend line.