I see some hints that the time of the bears have passed for now. Either the markets go bullish now or we see some consolidation in the upcoming days.
But i'm leaning towards bullish, the RSI seems to be in a good spot for a strong reversal. Nonetheless, I think this has been a good correction. It should sober up the markets for a bit and I've learnt alot. If you have anything to add feel free to comment.
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We've reached the 30 RSI on Coinbase.. but the other exchanges haven't quite gone under the 30 RSI. The whales there might start buying there once it hits 29 or less. So we're not really out of the woods yet. But I still believe a big reversal is about to happen. I will take profit once the RSI is overbought and RSI is 80
Whales also work on weekdays. So they probably expect the market to bleed out the weak holders from Saturday to Monday. They are the ones that will turn the tide and force the immediate sellers to buy back or "revenge trade". Buyers at 6k will start getting antsy and may choose to buy at 10k once there is confirmation and add to the rally.