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Bitcoin: Weekly Chart - April 2020
What can we see from the BTCUSD weekly chart?
1. Price is below the 21 MA ( bearish )
2. The MACD is below 0 and heading south ( bearish )
3. The RSI also looks like it's going to down and go into oversold territory ( bearish )
Short-term prediction
Price will return to test $5,800 level, thus taking RSI into oversold; this will be a nice time to buy some.
What are your predictions and why?
1. Price is below the 21 MA ( bearish )
2. The MACD is below 0 and heading south ( bearish )
3. The RSI also looks like it's going to down and go into oversold territory ( bearish )
Short-term prediction
Price will return to test $5,800 level, thus taking RSI into oversold; this will be a nice time to buy some.
What are your predictions and why?
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