BTC has broken key support levels, and is within a clearly visible bearish trend, under the SMA 210, 70, & 14, with an under 50 RSI and a MACD bearish cross.
The next relevant support is around $30K.
There are still odds that this is a false break out, so active traders and their bots should be prepared for possible long and short positions.
There is a strong correlation with equity markets, being the main international stock indices at the border of a correction/recession.
Never, since 2008, the RSI levels in weekly and monthly charts has been so low in the main indices.
Ahead us, historical weeks of volatility.
The next relevant support is around $30K.
There are still odds that this is a false break out, so active traders and their bots should be prepared for possible long and short positions.
There is a strong correlation with equity markets, being the main international stock indices at the border of a correction/recession.
Never, since 2008, the RSI levels in weekly and monthly charts has been so low in the main indices.
Ahead us, historical weeks of volatility.