BTC LOG support levels - trend analysis
RSI oversold and MACD priming a move upward crossing over the EMA.
Logarithmic support level at around $7000 could be a spring to launch price to break resistance level of $9200 (26.3% fib resistance line)
If BTC closes below log support level, next support would be between $2500 -$3000
BTCUSD
Logarithmic support level at around $7000 could be a spring to launch price to break resistance level of $9200 (26.3% fib resistance line)
If BTC closes below log support level, next support would be between $2500 -$3000
BTCUSDNote
The last two times RSI touched 30, there was a strong bounce of more than 30%, both situations occurred after a short downtrend.
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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.