Hey,
What an amazing run and it respected the channel on the way down.
Keeping in mind that everything is dependent on bitcoin price action.
Most of the oscillators are approaching oversold conditions.
This token doesn't seem to like being oversold on the RSI ever since it's bottom at 109 sats.
The MFI has been a better oscillator to read the local bottom within the channel.
Would I call this a bottom? yes
Can it go lower from the current price? yes
I'm looking for a back-test of the channel at around 480 sats.
Great bounce though.
Cheers
What an amazing run and it respected the channel on the way down.
Keeping in mind that everything is dependent on bitcoin price action.
Most of the oscillators are approaching oversold conditions.
This token doesn't seem to like being oversold on the RSI ever since it's bottom at 109 sats.
The MFI has been a better oscillator to read the local bottom within the channel.
Would I call this a bottom? yes
Can it go lower from the current price? yes
I'm looking for a back-test of the channel at around 480 sats.
Great bounce though.
Cheers