Bitcoin is now at a critical point
Bitcoin is now at a critical point retesting the RSI support like last year.
So far, we've got a bounce and there's a support range right around the current price level dating back a couple of months.
If we follow up last year's scheme, we might be able to attack the upper trendline again. This also happens to be the golden pocket, it closes yet another Futures Gap and perfectly hits the resistance at around 11,8K.
If BTC breaks the RSI support, though, there's a high probability that it will drop to the low 8K range once again, hitting the lower trendline and correcting the entire move by 0.618.
So far, we've got a bounce and there's a support range right around the current price level dating back a couple of months.
If we follow up last year's scheme, we might be able to attack the upper trendline again. This also happens to be the golden pocket, it closes yet another Futures Gap and perfectly hits the resistance at around 11,8K.
If BTC breaks the RSI support, though, there's a high probability that it will drop to the low 8K range once again, hitting the lower trendline and correcting the entire move by 0.618.
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