- Daily candles repeating prior moves as shown by wedges.
- We have divergence on volume/price.
- Stoch indicator is also repeating prior movements relative to the wedge pattern shown.
- RSI is lower than prior drop so would indicate a lower fall.
- Current RSI 37. RSI at prior drop 53.
- Expect RSI to reach around 40 with a daily close today at a marginally higher price than yesterday with lower volume at closing.
- RSI at 53 saw a 40% drop. Proportionally based on reduced RSI could expect a fall of approx 24%.
- Expect BTC to hit $40k before dropping which would equate to a low of $30.4k.
- $30k resistance line has not significantly weakened. Possible wick to $28k and then bounce
- 200 day SMA is holding as resistance.
- We have divergence on volume/price.
- Stoch indicator is also repeating prior movements relative to the wedge pattern shown.
- RSI is lower than prior drop so would indicate a lower fall.
- Current RSI 37. RSI at prior drop 53.
- Expect RSI to reach around 40 with a daily close today at a marginally higher price than yesterday with lower volume at closing.
- RSI at 53 saw a 40% drop. Proportionally based on reduced RSI could expect a fall of approx 24%.
- Expect BTC to hit $40k before dropping which would equate to a low of $30.4k.
- $30k resistance line has not significantly weakened. Possible wick to $28k and then bounce
- 200 day SMA is holding as resistance.