BTC - RSI in TROUBLE for SHORT TERM
Updated
Continuing this long standing analysis on Bitcoin since I first pointed out the danger of an M-Pattern forming:
The Weekly RSI has dropped under 50, which is bearish for the time being (until the RSI gets back above 50). However, this alone does NOT mean we're back in a bearish cycle. Watch the video to see the conditions.
Previously, we were discussing the likelihood of a 20% retracement:
To clarify - I still think it's likely for Bitcoin to see another ATH this year. But, as I pointed out in the fractal, it could be a multi-month playout.
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BTCUSDT
The Weekly RSI has dropped under 50, which is bearish for the time being (until the RSI gets back above 50). However, this alone does NOT mean we're back in a bearish cycle. Watch the video to see the conditions.
Previously, we were discussing the likelihood of a 20% retracement:
To clarify - I still think it's likely for Bitcoin to see another ATH this year. But, as I pointed out in the fractal, it could be a multi-month playout.
___________________________
BTCUSDT Trade active
-24% reached, and -30% will be exactly on the first support zone.
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