Observations:
1. Price forming a long legged doji / hammer, bouncing off 0.786 fibonacci line from ATH to 0, also it's touching (weekly) the bull run trendline that started in 2015.
2. Trading indicator shows that it's still trending down (green dots below the candles, but one daily close above 4.5k and it's over, so it will bounce and try to find where to go next.
3. RSI extremely oversold and trending up.
If BTC holds this area and manages to break above 4.5k, I can see a bounce to 5.3 to 6k.
1. Price forming a long legged doji / hammer, bouncing off 0.786 fibonacci line from ATH to 0, also it's touching (weekly) the bull run trendline that started in 2015.
2. Trading indicator shows that it's still trending down (green dots below the candles, but one daily close above 4.5k and it's over, so it will bounce and try to find where to go next.
3. RSI extremely oversold and trending up.
If BTC holds this area and manages to break above 4.5k, I can see a bounce to 5.3 to 6k.
Trade active:
Went down further, but I still expect a bounce next week.
I still think it's going to be a short term bullish move, we will see.