Drop down to $6k likely in next 48 hours
In the days leading up to 10th June Stoch RSI was maxed out and RSI was approaching undersold.
Inevitably a $700 one day drop occurred.
In the days leading up to 22nd June Stoch RSI was very high and RSI was approaching undersold.
Inevitably a $700 one day drop occurred.
In the days leading up to TODAY Stoch RSI is maxed out and RSI undersold.
A $700 one day drop is therefore a very real possibility today or tomorrow.
I fully expect the $5555 critical support to hold if we come close to it.
This is all just part of the long term consolidation ahead of the rise back up to $20,000 later this year.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Inevitably a $700 one day drop occurred.
In the days leading up to 22nd June Stoch RSI was very high and RSI was approaching undersold.
Inevitably a $700 one day drop occurred.
In the days leading up to TODAY Stoch RSI is maxed out and RSI undersold.
A $700 one day drop is therefore a very real possibility today or tomorrow.
I fully expect the $5555 critical support to hold if we come close to it.
This is all just part of the long term consolidation ahead of the rise back up to $20,000 later this year.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Note
It's been building for a few days longer than anticipated, but we are well on our way down to 6k, with a $400 drop just in the past 12 hours.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.