Bitcoin currently riding the line of the previous breakout low, trying to consolidate and move upward.
Weekly RSI entering oversold territory. Still room for a further move to the downside but now that downside is limited.
Do not be hasty about moving into a position. Rather than catching the exact bottom, wait for a higher high and higher low to form. Reclaiming 43.5 and finding support on 42.5k would be a good start.
Support bounces should continue to be sold until a proper low is established. A couple levels of interest highlighted in green, no guarantee we get down there but thought I'd share.
Weekly RSI entering oversold territory. Still room for a further move to the downside but now that downside is limited.
Do not be hasty about moving into a position. Rather than catching the exact bottom, wait for a higher high and higher low to form. Reclaiming 43.5 and finding support on 42.5k would be a good start.
Support bounces should continue to be sold until a proper low is established. A couple levels of interest highlighted in green, no guarantee we get down there but thought I'd share.
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