Previous pushes to close to $3k were fuelled by major events: mass media FOMO and BIP 91 success.
The previous selloff to the $1800ish support had a relatively large volume compared to the current consolidation phase.
RSI also indicates a price reversal.
Since there will not be a new event in the foreseeable future since SegWit is being locked in now the technical correction could continue.
Previous support levels will then probably be retested.
This is my first chart analysis. Please leave some feedback and suggestions for improvement. I'm very new to this.
Thanks
The previous selloff to the $1800ish support had a relatively large volume compared to the current consolidation phase.
RSI also indicates a price reversal.
Since there will not be a new event in the foreseeable future since SegWit is being locked in now the technical correction could continue.
Previous support levels will then probably be retested.
This is my first chart analysis. Please leave some feedback and suggestions for improvement. I'm very new to this.
Thanks
Comment:
MACD also bearish