Bitcoin PA stays in channel
As we can see, BTC PA dropped over 5% rapidly already on this chart and recovered.
This time, the problem maybe more deeply rooted but the simple fact that PA is Still in channel and sitting on Trendlind line ABOVE the next line of Fib retracement ( 382 ) shows that BTC is not ready to fall over and submit to Bad business practice.
As a result of this 5% drop, MACD, RSI are now near OVERSOLD. That points towards a good position to be in later this month when the FED comes out with its next round of rate Rises.
All Good
This time, the problem maybe more deeply rooted but the simple fact that PA is Still in channel and sitting on Trendlind line ABOVE the next line of Fib retracement ( 382 ) shows that BTC is not ready to fall over and submit to Bad business practice.
As a result of this 5% drop, MACD, RSI are now near OVERSOLD. That points towards a good position to be in later this month when the FED comes out with its next round of rate Rises.
All Good
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