Bitcoin’ is also oversold on the weekly time frame, this is a very strong signal.
You can see support levels on the chart, these are relevant now.
Lots of good can develop from here, it is good to have this drop . Bitcoin’ stalled since February, this is surely going to bring some action into the market. Action, is what we want.
TIME TO BUY BITCOIN’
Thanks a lot for reading.
P.S. This is no trade advice.
We see divergence on the RSI.. ??
Yes. It is there.
We are oversold... Yes, easy to spot!
Will the price go up?
Please allow time for the chart to develop.
Support (green lines).
Resistance (EMA lines - magenta, blue, yellow).
- If support holds, price consolidate and tries the next resistance (up).
- If support breaks, we test next support (down).
- This same process repeats up and down... down and up.
Pretty easy... Enjoy your day.