In this analysis I want to elaborate further on my previous analysis where I talked about the daily RSI of BTC almost being oversold, which is historically a great time to buy during bullish long-term trends.
As seen on the chart, I'm looking at both the RSI and the diagonal purple trendline. Ideally, the daily RSI will be lower than 30 and BTC will be trading closely around the trendline. This will activate the reversal trade.
In my eyes, it's possible that said reversal will be the start of a new bullish trend for BTC, which can potentially take us all the way to 100k.
Small risk, huge reward. What do you think?
As seen on the chart, I'm looking at both the RSI and the diagonal purple trendline. Ideally, the daily RSI will be lower than 30 and BTC will be trading closely around the trendline. This will activate the reversal trade.
In my eyes, it's possible that said reversal will be the start of a new bullish trend for BTC, which can potentially take us all the way to 100k.
Small risk, huge reward. What do you think?
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