Bitcoin local bottom $7500-$7700?
I have not posted about Bitcoin price action for a while! now, this is what I think and hope to play out!
The current/recent price action/pattern is very similar to the massive drop in November 2018 and we are somewhere around 5 December 2018, so, I expect Bitcoin to go further down in the next 7 days. What I like to see (to confirm that the price action is similar to that of November-December 2018) is an stable RSI curve. If price goes down while RSI either hovers around the current value or (who knows) goes up, we will have a divergence pattern (here is bullish).
IF THIS PLAYS OUT WELL (as explained above), my buy-in price will be somewhere around $7500-$7700. If RSI drops below 20.3 and the price goes down as well, then the story is different and we may go further down! We will see in the next 7-10 days.
DO NOT WAIT FOR $7500! Buy small every day/every week!
Good luck.
The current/recent price action/pattern is very similar to the massive drop in November 2018 and we are somewhere around 5 December 2018, so, I expect Bitcoin to go further down in the next 7 days. What I like to see (to confirm that the price action is similar to that of November-December 2018) is an stable RSI curve. If price goes down while RSI either hovers around the current value or (who knows) goes up, we will have a divergence pattern (here is bullish).
IF THIS PLAYS OUT WELL (as explained above), my buy-in price will be somewhere around $7500-$7700. If RSI drops below 20.3 and the price goes down as well, then the story is different and we may go further down! We will see in the next 7-10 days.
DO NOT WAIT FOR $7500! Buy small every day/every week!
Good luck.
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