1) Price in satoshis hanging out at around "OMG BITCOIN IS DEAD" levels seen on February 5th.
2) Hidden bullish divergence on the 4H RSI. 4H RSI hanging out at all time lows while 1D RSI at levels not seen since November.
3) The BMW partnership seems to have been a "sell the news" scenario; but in reality is a significant fundamental catalyst with more developments likely to come.
First price target would be a test of the downtrend from ATH (moving target depending on when it is tested). Second would be the top red line which has been acting as resistance since late January (60K-62K satoshis). If both are break upwards, will likely see a push towards ATH.
Idea would likely be invalidated or postponed should Bitcoin take another significant dump; but I just don't see much further downside (in BTC pair price) given the fundamentals of the project. Happy trading!
2) Hidden bullish divergence on the 4H RSI. 4H RSI hanging out at all time lows while 1D RSI at levels not seen since November.
3) The BMW partnership seems to have been a "sell the news" scenario; but in reality is a significant fundamental catalyst with more developments likely to come.
First price target would be a test of the downtrend from ATH (moving target depending on when it is tested). Second would be the top red line which has been acting as resistance since late January (60K-62K satoshis). If both are break upwards, will likely see a push towards ATH.
Idea would likely be invalidated or postponed should Bitcoin take another significant dump; but I just don't see much further downside (in BTC pair price) given the fundamentals of the project. Happy trading!