BTC market update 3.16.21
Updated
RSI needs to hold trend line otherwise we will need to test the 50 at least, but i'm looking at the 40's if we want to continue our upwards trend. Anything below will signify a market reversal and we this run may be over for the mid-term. In terms of price i'm looking for a liquidation candle so aim for the most recent low in market structure which puts under right under 40k. If aggressive sell off then we can see 35k. If RSI breaks the upper diagonal then we the sky is our target. Can't really say where exactly. It's hard to ignore the bearish divergences here, BUT we could be consolidating upwards. It's a thing these days.
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Dates for apex of where the trend lines converge on RSI. Decision time soon.
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Broke down, but came right back up. Upwards consolidation still in play. First target is high 60k. Main target is 92k. We'll see if we get there.
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Bullish hidden divergence on the 1 day
BTCily Wassilyevich Kandinsky (16 December [O.S. 4 December] 1866 – 13 December 1944) was a Russian painter and (ch)art theorist.
Kandinsky is generally credited as the pioneer of abstract (ch)art.
Kandinsky is generally credited as the pioneer of abstract (ch)art.
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