I believe it's coming. It's going to below the last low of $29k, and possibly to $25k before we see the next bull run to 80k+. Always a chance to be wrong, but I'm confident. Why? Read on.
Using the current BTC chart, its hitting a diagonal resistance, but otherwise doesn't give us much info. Lets use some other tools to dissect this.
The BTC futures chart gives us more info on direction, showing another resistance but it is also having a hard time retaking the 200 DMA (orange), and with the amount of RSI that was oversold yet no meaningful push to the upside, something else is accumulating within the volume (a short possibly?).
For great info, lets use the TOTAL.
Very simple. The TOTAL is hitting (and failing) against the 200DMA, possibly confirming it as resistance. Next stop could be the 50WMA, putting etc within my range to buy. It was also oversold on the RSI yet no upside, thus opening the door for more downside.
More on free blog
Otherwise, more downside to come IMHO. Once this is done, a fantastic buying opportunity is coming!
BitDaddy.co
Using the current BTC chart, its hitting a diagonal resistance, but otherwise doesn't give us much info. Lets use some other tools to dissect this.
The BTC futures chart gives us more info on direction, showing another resistance but it is also having a hard time retaking the 200 DMA (orange), and with the amount of RSI that was oversold yet no meaningful push to the upside, something else is accumulating within the volume (a short possibly?).
For great info, lets use the TOTAL.
Very simple. The TOTAL is hitting (and failing) against the 200DMA, possibly confirming it as resistance. Next stop could be the 50WMA, putting etc within my range to buy. It was also oversold on the RSI yet no upside, thus opening the door for more downside.
More on free blog
Otherwise, more downside to come IMHO. Once this is done, a fantastic buying opportunity is coming!
BitDaddy.co
