Bitcoin must reach the blue area
Updated
to keep the trend from being bearish, bitcoin must maintain the price in the blue area of the channel in order to create a new Higher High.
however, GBTC sentiment remains fearful at the moment so prices tend to remain bearish in the short term.
The RSI indicator hasn't changed its direction yet, so the bullish divergence still looks weak considering the price has dropped and the oscillator is still stable.
however, GBTC sentiment remains fearful at the moment so prices tend to remain bearish in the short term.
The RSI indicator hasn't changed its direction yet, so the bullish divergence still looks weak considering the price has dropped and the oscillator is still stable.
Note
GBTC issue should not affect the price but the market says otherwise so we have to follow where smart money goes.
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