Anything below the top horizontal line is a massive opportunity in my opinion.
In this idea, I'd like to suggest that the 10 simple MA when shown on the Relative Strength Index is a great magnet for bitcoin pullbacks when shown throughout the previous bull trend. We are still a bit high above it here and I am looking for a bounce around the green line marked on the RSI.
Getting some bearish divergence on most of the larger time frames here... Bulls seem to have run out of steam and we have not achieved a higher high. I'm leaning bearish here.
Please comment your thoughts below!
RSI oversold needs to cool down before we go much lower. Then we can possibly take the final plunge to 3.6k (potentially lower) that will trigger a buying wave. We shall see....Refer back to this chart in 3 months.