❗ Bitcoin suffers hangover after spectacular rise, may slide to
BTC/USD emerged from the abyss of 19,552 and shot up some $7,000 all the way to $26,516. The move came in response to the news that funds related to crypto companies at SVB would be made available – and the general relief rally which favors risky assets such as Bitcoin.
Yet after the surge, we had a hangover, with a fall to just under $25,000. While the 4h-RSI is now under 70, there is more room for falls in an extended correction. Support is at $24,595 and then $24,000, a strong separator of ranges. Resistance is at $25,295 and $26,561.
Yet after the surge, we had a hangover, with a fall to just under $25,000. While the 4h-RSI is now under 70, there is more room for falls in an extended correction. Support is at $24,595 and then $24,000, a strong separator of ranges. Resistance is at $25,295 and $26,561.
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