I strongly reckon that we are going to hold support at 55199 since the cycle has been repeatedly happening twice. You see on the red box ''A'', the pull back from the price 53116USD to 39750USD Approximately is equite eqal to the pull back from the next section which represents the box ''B''. So the question is now of course is that, Are we going to do the same this time. Also to add, RSI is currently at 44 which might be signalling us that BTC has the potential of going upwards. If we are going to do the same this time. the target would be at 81756USD approximately.
Why I think that we are going to go up ? Well the last time when we were at 52900 levels, we went below the EMA, consolidated for a while until RSI hit 39 and went up for good. Now we see that the same thing is going to happen. What do you reckon? Let me know.
Why I think that we are going to go up ? Well the last time when we were at 52900 levels, we went below the EMA, consolidated for a while until RSI hit 39 and went up for good. Now we see that the same thing is going to happen. What do you reckon? Let me know.
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Strong support at 55000 levels. watch out!!!