Bitcoin - Looks like bottoming volume
This looks like the market trying to find a bottom. I highlighted the past move on the chart where it did bottom recently. Comparing the volume and RSI divergence from the bottom at $3100, this looks very similar.
I think there is a good chance we move up to the blue zone before the next leg down to get RSI to come up some more. Thats somewhere in the 6500 to 7000 area. Then the drop to 3000s. As I said before, I still do not rule out drop down to the 3000s again or even below quickly to get rid of some long term bag holders with stops there ... in fact I am expecting it. This should confirm the RSI bullish divergence and just like in the past, be the final move as long term recovery will begin.
I think there is a good chance we move up to the blue zone before the next leg down to get RSI to come up some more. Thats somewhere in the 6500 to 7000 area. Then the drop to 3000s. As I said before, I still do not rule out drop down to the 3000s again or even below quickly to get rid of some long term bag holders with stops there ... in fact I am expecting it. This should confirm the RSI bullish divergence and just like in the past, be the final move as long term recovery will begin.
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