As I wrote yesterday I predicted a drop in bitcoin. And last night it did just as I thought it would. But it only dropped $500 (6%) and is no where near the dump we need to start the new bull run. if you look at the 1 day charts bitcoin is barley under the overbought territory in RSI. MACD is also still showing bearish trends with small volume on the one day chart. On the four hour chart bitcoin touched the bottom of the RSI channel and the MACD is showing bearish trends as well. So another fall is soon to come in the coming days if not before the start of the new week. For the drop, I said this yesterday but ill just reiterate it, both the MA 200 and the MA 100 are providing support at 4550 and 4100. If we have a four hour candle close below any of these two support lines then a fall down to the next support line is plausible.
if you agree with me leave a like and if you want to have a conversation leave a comment in the bottom about your view on what you think bitcoin will do here in the coming days
if you agree with me leave a like and if you want to have a conversation leave a comment in the bottom about your view on what you think bitcoin will do here in the coming days
