Hey guys,
long time no see. I hope you are doing at least decent during these rough times.
Today I’m bringing you my new mid-term outlook on Bitcoin. To keep it short and simple, the chart mostly speaks for itself. I am just giving you a short explanation here as well:
The Weekly RSI is clearly oversold. Every time it dips into the blue zone with the lower Bollinger Band of the RSI going below the blue zone, a bottom has formed, and we can expect the chart to move upwards from there on (Bottom of 2018, 2020 and now (?)). See the green circles in the RSI chart.
In the BTC chart we can see the price approaching the 0.786 fib retracement level (~15.5k$). This level is also located directly in one major demand zone.
Stay safe yall
long time no see. I hope you are doing at least decent during these rough times.
Today I’m bringing you my new mid-term outlook on Bitcoin. To keep it short and simple, the chart mostly speaks for itself. I am just giving you a short explanation here as well:
The Weekly RSI is clearly oversold. Every time it dips into the blue zone with the lower Bollinger Band of the RSI going below the blue zone, a bottom has formed, and we can expect the chart to move upwards from there on (Bottom of 2018, 2020 and now (?)). See the green circles in the RSI chart.
In the BTC chart we can see the price approaching the 0.786 fib retracement level (~15.5k$). This level is also located directly in one major demand zone.
Stay safe yall
Comment:
So far so good, all according to plan.
