Did Bitcoin Bottom?
BTC looks to be following the same corrective pattern as Sept 7th-Oct 2nd (white line pattern) when BTC dropped from 53K to 40k.
Price action is identical
We are sitting in the same area on the trend line as we were before bouncing from 40K to 69K
Currently breaking above resistance on the RSI, which also has had similar movement to Sept 7th to Oct 2nd.
BTC is very correlated with the S&P which also appears to be bottoming as it just broke out of a descending channel on the 30 minute.
The DXY is at overbought levels on the daily.
Price action is identical
We are sitting in the same area on the trend line as we were before bouncing from 40K to 69K
Currently breaking above resistance on the RSI, which also has had similar movement to Sept 7th to Oct 2nd.
BTC is very correlated with the S&P which also appears to be bottoming as it just broke out of a descending channel on the 30 minute.
The DXY is at overbought levels on the daily.
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