BTC technical Analysis 01/23/2022
BTC continuing to break below support levels.
False break out of downtrend trend line on 01/20/2022. SPX sold off which did not help BTC find any support.
BTC broke below the 39500 level, and sold off until it found some ground around 34000.
Currently, we are witnessing a flag pattern. If BTC continues to sell off, it will complete a bearish flag pattern. Expect a dip to the 29370 level if BTC trades lower.
RSI dipped to 18 - Extremely oversold
Don't expect BTC to find support until the general market does, the markets are fragile.
BTC is a risk on asset, we are in currently trading in a risk off move in the market.
BTC is down 50% from its all time high.
False break out of downtrend trend line on 01/20/2022. SPX sold off which did not help BTC find any support.
BTC broke below the 39500 level, and sold off until it found some ground around 34000.
Currently, we are witnessing a flag pattern. If BTC continues to sell off, it will complete a bearish flag pattern. Expect a dip to the 29370 level if BTC trades lower.
RSI dipped to 18 - Extremely oversold
Don't expect BTC to find support until the general market does, the markets are fragile.
BTC is a risk on asset, we are in currently trading in a risk off move in the market.
BTC is down 50% from its all time high.
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