This weekend/next week can be a bullish week for Bitcoin. We're approximately down 25% from the previous high and if we analyze the previous dips Bitcoin has made since the beginning of the year we can see that on average the dip range is between 25-32%.
RSI on the daily timeframe has pretty much corrected for now and is almost at oversold territory. RSI on lower timeframes are showing oversold and a rebound is likely to happen.
We also have a bullish divergence on the 1H/4H/1D RSI.
But the most important part is, if Bitcoin does bounces back up, $60k needs to be reclaimed again or else there is a risk of a bigger correction that may plunge Bitcoin prices down to $35-40k.
Stay safe out there traders and investors!
RSI on the daily timeframe has pretty much corrected for now and is almost at oversold territory. RSI on lower timeframes are showing oversold and a rebound is likely to happen.
We also have a bullish divergence on the 1H/4H/1D RSI.
But the most important part is, if Bitcoin does bounces back up, $60k needs to be reclaimed again or else there is a risk of a bigger correction that may plunge Bitcoin prices down to $35-40k.
Stay safe out there traders and investors!
