BITCOIN: THE KING NEEDS A REST
We are witnessing of healthy correction that would allow the BTC to grow higher in time.
• As you can see on the RSI, since the 14-feb-2020 we broke the RSI trend line. People who were aware of this already took their money out of the market.
• By doing a Fibonacci retracement for the entire movement we can find two entry points at 0.5 and 0.61:
- $8423
- $8000 (the $8000 entry point corresponds with a solid support)
• We have a support at $7987
• As you can see on the RSI, since the 14-feb-2020 we broke the RSI trend line. People who were aware of this already took their money out of the market.
• By doing a Fibonacci retracement for the entire movement we can find two entry points at 0.5 and 0.61:
- $8423
- $8000 (the $8000 entry point corresponds with a solid support)
• We have a support at $7987
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