It's just FUD. Stick with the fundamentals and be patient
We faced a >50% drop from the previous ATH around the 68k level and created a new lower low.
The last dip down to the 33k level was bought up with higher volume compared to the previous dips during this downtrend which indicates that we could have bottomed out.
The RSI still is below 40 and probably will test the yellow line in the near-term.
Once we break this downtrend on RSI we expect to be above the critical 40k level and recover properly from this downfall.
Until this happens we are in a downtrend and could see further downside.
Big support lies around the 30k level while the support around 40k turned into resistance and is our first test for upside movement.
Most indicators show that we have bottomed out or are very close to it.
Keep in mind that often times we feel doomed or the opposite invincible, this is the time we are wrong and reversals happen.
So ask yourself how you feel and what it means.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumblery
The last dip down to the 33k level was bought up with higher volume compared to the previous dips during this downtrend which indicates that we could have bottomed out.
The RSI still is below 40 and probably will test the yellow line in the near-term.
Once we break this downtrend on RSI we expect to be above the critical 40k level and recover properly from this downfall.
Until this happens we are in a downtrend and could see further downside.
Big support lies around the 30k level while the support around 40k turned into resistance and is our first test for upside movement.
Most indicators show that we have bottomed out or are very close to it.
Keep in mind that often times we feel doomed or the opposite invincible, this is the time we are wrong and reversals happen.
So ask yourself how you feel and what it means.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumblery
