Hi, everyone! BTC dropped to the key support level that we have seen twice since "big rally" in the same time turning from symmetrical triangle which is Bi-Lateral pattern into Descending Triangle, which is BULLISH. If 6000-6500 will hold, we should reach a wave "E" first, and if the breakdown occurs at 8500-8800, the target will be ~13250 at 0.5 Fibonacci.
BTC is still very overbought, Daily RSI 28. We have seen this conditions only 6 times before the big rallies from 1800 to 4980, 2900 to 19980, 5800 to 11800 and 6400 to 9800.
Hold tight and stay tuned
BTC is still very overbought, Daily RSI 28. We have seen this conditions only 6 times before the big rallies from 1800 to 4980, 2900 to 19980, 5800 to 11800 and 6400 to 9800.
Hold tight and stay tuned
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