We seem to have stopped for the time being at 2500, which on a weekly chart time scale shows a bit more bullishness. But looking at the monthly chart on a macro scale, it looks like RSI still needs further to go. Could this be the start of a heated sell off and beginning of a bear market? Time will tell
Not a fan of this stock. All can be said is there has been support at the entry price of 5 ish, and judging by the recent transaction volume traded and the sudden price movements, it must be close to capitulation. Hit 8.50 ish today. That I suppose could be mid term bottom. as I type we have 10.40
as Nvidia makes it's 3 wave correction pushing down to 111 high volume price action.
Fundamentally, the graphics card maker is in a brilliant position as leading graphics card provider to work in future disruptive industries, such as AI, QC, Crypto and Autonomous driving, as well as established industries such as Gaming, CGI/animation and CAD design.
As can be seen per log chart, as time of writing, BTC is not out of this bearish trend yet.
Also one thing to consider is the bearish divergence that is happening.
This is not financial advice. Just me practicing on my chart analysis, using this platform and learning to publish the charts :)
I am not a pro or an FA and this is not intend to be seen as...