BTC Rally towards 4700?
Based on positive RSI divergence and just being very oversold, I see a possible rally back to around $4700.
However for me to become bullish on BTC again, we'd need to break and sustain 6500, which is both above the daily 200MA and of course the 2018 support of 6000-6500.
I think 2019 is going to be a good year for crypto once again, especially with all the institutional infrastructure rolling out. I'd expect a takeoff towards a new bull starting around June 2019, but earlier is possible too of course.
As long as the 3000 level holds we may actually have the bear market low, so it'll be interesting to see how the next weeks progress.
However for me to become bullish on BTC again, we'd need to break and sustain 6500, which is both above the daily 200MA and of course the 2018 support of 6000-6500.
I think 2019 is going to be a good year for crypto once again, especially with all the institutional infrastructure rolling out. I'd expect a takeoff towards a new bull starting around June 2019, but earlier is possible too of course.
As long as the 3000 level holds we may actually have the bear market low, so it'll be interesting to see how the next weeks progress.
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