Bitcoin Analysis and Strategy Today
Updated
I believe BTC is going to test the lows around 50-51k one more time since it still lacks the strength and momentum from that small corrective move we have seen last hours.
I actually would prefer a lower low around 48k on lower volume which would likely give us a nice bullish divergence on the RSI. From there we should see an attempt to break 56.5-57k which would be the first major resistance BTC needs to break but the real key resistance level now sits around 62-64k, really not sure if we see this break at this point.
A higher low scenario around 52k is also possible but either way I don't believe the bottom is in. So if it gets to 48k I would bet big, if it's going to be 52k I would bet much less but this is just a rule I have: Bet the most on lower lows, bet high at equal lows and bet less on higher lows.
I actually would prefer a lower low around 48k on lower volume which would likely give us a nice bullish divergence on the RSI. From there we should see an attempt to break 56.5-57k which would be the first major resistance BTC needs to break but the real key resistance level now sits around 62-64k, really not sure if we see this break at this point.
A higher low scenario around 52k is also possible but either way I don't believe the bottom is in. So if it gets to 48k I would bet big, if it's going to be 52k I would bet much less but this is just a rule I have: Bet the most on lower lows, bet high at equal lows and bet less on higher lows.
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