The bounce we had from the recent dip was too weak to validate as a reversal. That being said, I believe BTC
will form a double bottom
to commence the true reversal. BTC
on the 1-day timeframe via STOCH RSI
is OVERSOLD and needs a real strong bounce to indicate we will get out of the 1-day oversold zone. Since we are overbought in the 4-hour timeframe, it should provide evidence that it is enough to go back down to 9.3k. BTC
going to 8.4k is anticipated by way too many people and doubt it will go any lower than 9.3k. This next dip to 9.3k should be a quick one with a real bounce.