Notdoge
HOLY BITCOIN!!! Check this out!OK so first i drew the line of previous ATH. Next line represents a 7% retracement from current levels. This is basically the price retracement % EVERY time BTC's RSI has gotten above 70. It gets support at 50 RSI (only exception being the first big correction from 41.5k to 30.5K).
So I took 7% from here and got a local RSI support line around $44,500. Not strong analysis work i know. BUUUUUT,
Applied the fib retracement levels using current high of $48k and the 30.5k correction low and.....
LOOK at how well they confirm these new support levels. $44,500 i'm mortgaging the house if it holds support. OK not literallly but with momentum, Fib's and the RSI support i'm like 90% sure $44,500 is as low as it goes.
As for upper range, who knows. But the .618 fib level tells us $58,000 is next level of resistance.
This is not advice. just my personal notes. I'm not a professional. This is to capture my personal feelings and ideas.
