So as you can see on the chart the big neutral triangle + the yellow line shows strong support around 6.9k. Also if you take a look at the RSI, you'll see that we're near of 30... Each time the RSI goes around this level Bitcoin bounce hard. If BTC drop around 7k the RSI should be around 30... Honestly Bitcoin could bounce at any moment but I think if BTC fall under 7k we can expect a good bounce to at least 8k where we can see a resistance (red line).
Also, Symmetrical triangles are neutral but since Bitcoin is in a bear market, the odds of breaking this symmetrical triangle downside are 55% for me. However, I expect a bounce before it happens.
Stay tuned for more updates,
Fred
Also, Symmetrical triangles are neutral but since Bitcoin is in a bear market, the odds of breaking this symmetrical triangle downside are 55% for me. However, I expect a bounce before it happens.
Stay tuned for more updates,
Fred
