Daily BTC Update
BTCs current short term downtrend is still in play. We now have three wicks below the 0.236 Fib line indicating buyers are coming in at these levels to push the price back up. The question is can the bulls hold this level? My confidence is low, as volume on the only green candle in this group is very small. RSI is also drifting down. Of course, this is a bull market and BTC bulls do have a way of turning the tables. So for now, I'm on the sidelines until I get a clear signal that we have upward momentum again.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.