BITFINEX BTCUSD. Possible Triple Bottom Reversal.
Sometimes its a simple pattern,
If BTC closes the day above the support lines in purple then we have a shot seeing a reversal.
Daily RSI shows us that we have broken the down trend and BTC is ready for an upwards move, baring any more bad news. I am more worried about Tether being an issue than regulation of the Asian markets.
Downside, If BTC breaks 9500, then its likely we see 8k.
Best guess its 50/50 right now.
If BTC closes the day above the support lines in purple then we have a shot seeing a reversal.
Daily RSI shows us that we have broken the down trend and BTC is ready for an upwards move, baring any more bad news. I am more worried about Tether being an issue than regulation of the Asian markets.
Downside, If BTC breaks 9500, then its likely we see 8k.
Best guess its 50/50 right now.
Comment:
No Reversal yet and we have broken the 10k support. Support of the previous downtrend resistance is holding for now.
Another 3 reasons I believe 10K will hold and we will return to 13k+
Daily RSI has Crossed the Downtren line and stayed above at close for 2 days.
MACD has Crossed Bullish
Price has not closed below 10K Support or the previous resistance turned support line.