If we take a look at bitcoins trajection at the beginning of the Bull run you can see that it is set to pick back up. The red lines indicate possible turnaround points. The bottom red line is at 82K, followed by 84, 86, 88 and then current price. In short we could go as low as 82k or if we traded sideways all the way until the end of January we could stay at current levels..... A close below 82K would push us down towards 67k. The RSI is at 42 approx. Indicating there is still more downtrend coming, considering we are in a bearish market right now.. I believe there is too much uncertainty in the market right now to put your money in. Sit back and wait for the dips.
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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.