This is my Bollinger band TA which I try and do every 2 weeks. Last time I reviewed it, Bitcoin was going to find bottom at $4900-$5000 however as markets move so do the indication.
As expected we had a bounce since the last Analysis and that may be the last time before we plummet. But for that to be ruled out we must close above the 20 Week Moving average. On the 7th and 8th of Dec we closed above the 20day Moving average But volume was low and today looks like we will close back below it. Some indicators showing overbought.
If things continue as they are Bitcoin will bottom between $4300-$4900.
Until next time keep your money safe.
This is all my opinion
As expected we had a bounce since the last Analysis and that may be the last time before we plummet. But for that to be ruled out we must close above the 20 Week Moving average. On the 7th and 8th of Dec we closed above the 20day Moving average But volume was low and today looks like we will close back below it. Some indicators showing overbought.
If things continue as they are Bitcoin will bottom between $4300-$4900.
Until next time keep your money safe.
This is all my opinion
