Previous RSI resistance is now broken. St RSI under 20 for almost a full month with MFI showing divergence with price action following the exit of an oversold region. Furthermore we've now landed on the 0.78 Fibonacci golden ratio.
Can price go lower? Absolutely. Is it probable? Let's have a look. RSI is around 25 on the daily chart. At the line drawn on the 25 we can see historically this has been a good time to take a position 10 times out of 10. I can never say when the bottom will be, however, the oscillators indicate we're very close or at the bottom already.
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Good grief - that's a confirmation if ever I saw one. This run is showing potential RSI support until March 20th - enjoy the run everyone.
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The CRPT / BTC pair held the RSI Support after today and price action appears to be consolidating on the 21-day moving average. No action required.
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Powerful move imminent - Bollinger bands tightening with price action on Bullish half of band together with higher lows on RSI and Stochastic RSI showing increased momentum - what's not to like?!