Sups! Noob alert, first chart ever.
Just reading up on RSI indicators, and based on the last 12 months, BTC behaves fairly predictably when the RSI is showing clear signs of overbuying or overselling.
We are currently heading towards being way oversold on the RSI, and we've developed a clear falling wedge over the last 3-4 weeks, so assuming volume can pick up, the reversal may be around the corner.
I'm not ready to call a bottom, having just bounced off 7.5xx, I feel we need to go back down to 6.8xx-7.2xx before we're truly oversold and a bull run can get started.
Re: Twitter banning ads FUD. Who cares? Those scammy ICO ads all over Twitter and Facebook were not helping the market at all, by bringing in Grannies at the ATH, and making people buy into shitcoins. No more ads? Good. The real news will come from G20, where I feel we will see reasonable regulation that will legitamise the market to serious investors, but not so much regulation that they crush it, as now WallStreet money is in crypto, they won't allow it. That coupled with the RSI and falling wedge pattern, I reckon the bulls will be back in charge by the end of March.
Noob out. Holla any feedback on why my chart sucks below.
Peace!