Mostly a neutral stance on this. We are seeing that BTC is weaker than ETH right now. Eth did not break to new lows while BTC did. Price has broken out of the range that it has been stuck in since June. Now I am more bearish on this chart. This is currently in a downtrend with no reversal signals showing up.
Obviously events driven but I would enter bullish if we got a bullish divergence on the daily RSI. This would signal a local bottom for me.
The first resistance zone for me is 18500. If we fail here, I think we test new lows.
If we barely test new lows and set up a bullish divergence, then I see us retesting the 18500 level. Will decide what to do after that.
Obviously events driven but I would enter bullish if we got a bullish divergence on the daily RSI. This would signal a local bottom for me.
The first resistance zone for me is 18500. If we fail here, I think we test new lows.
If we barely test new lows and set up a bullish divergence, then I see us retesting the 18500 level. Will decide what to do after that.