Reasons why this is the temporary bottom:
-Bollinger band structure and previous bounces
-FIB 0.618 weekly chart
-Fresh sweep of liquidity at previous high in JANUARY
-RSI 30 and potential Bullish divergence
-RSI on 2D chart 50 (indicates support)
-Max Elon FUD and pain
Path for now:
-Chop around this zone
-Goes to 47.5K then retest previous zone around low 46K
-Then upwards to 49,5K making higher lows and higher highs.
From there:
Risk reduce
Rejection
Evaluation
-Bollinger band structure and previous bounces
-FIB 0.618 weekly chart
-Fresh sweep of liquidity at previous high in JANUARY
-RSI 30 and potential Bullish divergence
-RSI on 2D chart 50 (indicates support)
-Max Elon FUD and pain
Path for now:
-Chop around this zone
-Goes to 47.5K then retest previous zone around low 46K
-Then upwards to 49,5K making higher lows and higher highs.
From there:
Risk reduce
Rejection
Evaluation
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.
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.