Look for a set of corrective waves. This sort of RSI drop following bearish divergence indicates that the bitcoin price is in for a significant correction. It could bottom between $4650 and $4410.
If $4410 does not hold I expect a test of $4150, if that does not hold $3650 should be the lowest price that one can still trust to hold before looking at lower lows like $2950.
I expect to see at least 2 more months of bear market. For someone interested in accumulation, it would probably be best to check back on things in about 3 weeks.
Be a responsible person and make your own decisions about where to put your hard earned money. I am not a financial adviser and this is not financial advice.
If $4410 does not hold I expect a test of $4150, if that does not hold $3650 should be the lowest price that one can still trust to hold before looking at lower lows like $2950.
I expect to see at least 2 more months of bear market. For someone interested in accumulation, it would probably be best to check back on things in about 3 weeks.
Be a responsible person and make your own decisions about where to put your hard earned money. I am not a financial adviser and this is not financial advice.
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Related publications
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.