Before the Bottom
Updated
There have been many posts on Tradview showing that we are nearing the bottom. This can be seen and strongly supported by the weekly RSI, volume, moving averages, short squeeze, and historical support around the 3 k level.
Before we reach this "bottom" though we will need to retest the 3.6 k level, if the support does not hold we will see BTC drop down to 3 k. However if this support holds then BTC will have to retest the last LH at 4.2 k.
looking at the Stoch RSI the value is shown as over bought and the price will likely drop down and test the 3.6 k level.
Before we reach this "bottom" though we will need to retest the 3.6 k level, if the support does not hold we will see BTC drop down to 3 k. However if this support holds then BTC will have to retest the last LH at 4.2 k.
looking at the Stoch RSI the value is shown as over bought and the price will likely drop down and test the 3.6 k level.
Note
Looking at the current market, it can be seen that we are currently testing the 4.2 k level. However looking at the RSI and the Stoch RSi in addition too the low volume in the market, we will most likely go down to retest the 2.5 k level.
Note
A bull flag forming at the 1hr chart. When extending the flag pole it can be seen that the small rally will move us up to the 4.5k-4.8k area to retest the previous support.
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