fifty2kph

Bitcoin: Channel Hoppin' Since the Drop. Where next? #down

Long
COINBASE:BTCUSD   Bitcoin
We can observe on the Bitcoin 4 hour chart that since the drop has been working in different channels between the price volume (coloured bars on right) resistance levels. It seems to test the price strength on each level, one bounce lower than the next, then falling down to next level, looks weak (due to lack of volume?).

The RSI has also been a reliable indicator of its next move. Thus if history is anything to go on, it looks as if another move down is coming. Of course this is not financial advice. Of course.

Any comments or opinions, shoot them down below. Cheers!

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