Hello dear traders!
Bitcoin has been trading near the crucial level of $20K during this week. Though it has been trading a little above it mostly, there have been a couple of wicks below it as well. We already have seen the hidden bullish divergence on the 1W timeframe. RSI is oversold but it is turning upwards now. There is a good chance that it can bottom out here.
However, a decisive break below $20K can drop it hard to
12K indicated by the FIB extension and complete the target of Bearish flag breakdown on 1W TF.
Bitcoin has been trading near the crucial level of $20K during this week. Though it has been trading a little above it mostly, there have been a couple of wicks below it as well. We already have seen the hidden bullish divergence on the 1W timeframe. RSI is oversold but it is turning upwards now. There is a good chance that it can bottom out here.
However, a decisive break below $20K can drop it hard to
12K indicated by the FIB extension and complete the target of Bearish flag breakdown on 1W TF.
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