The price has reached the oversold territory on RSI in the following time frames: 1H, 4H, 1D. Red dotted lines stand for the resistance levels, while the green indicate the support levels. By analysing the chart, the price is nearing a rebounce level, the green box indicates the buy zone. At this level, the risk remains lower than average due to the short of supply. I expect a rebounce pretty soon, a update will be published at that time. As a experiment, this idea will be built upon and updated when I see an opportunity. Apart from that, the major resistance lines would be the thick green (50EMA) and pink (200EMA) lines. Please note that it is not advisable to use this chart as a mean of buying and selling opportunity, but just as a education material.
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No update because no price action at the moment.
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We have a bullish divergence and we are in the low risk high reward area. First resistance level would be 11,5k satoshi.
We have a bullish divergence and we are in the low risk high reward area. First resistance level would be 11,5k satoshi.
Prediction: first, price stabilising. hypothetical scenario similar to 14th August, when the price burst upward. Keep in mind that there is resistance at 0.5.