I still think BTC is heading to the baseline support around 12k, I am talking about further down from here below capitulation, moving further into desperation territory, followed by a long consolidation period.
Why? because the downtrend haven't changed yet, together with equities cryptos are in a bear trend IMO.
Bearish points: The 50ma has just crossed above the 200ma, RSI also showing contraction in overbought territory.
The speed of the downfall has changed, but not the direction IMO.
Watch out.
Why? because the downtrend haven't changed yet, together with equities cryptos are in a bear trend IMO.
Bearish points: The 50ma has just crossed above the 200ma, RSI also showing contraction in overbought territory.
The speed of the downfall has changed, but not the direction IMO.
Watch out.
