BTC - Use Caution
Here is an update to our previous post:
BTC did get the rebound to our key level exactly as predicted. After finding sell pressure at the key level of 98.4k we are starting to see some initial warning signs form in the short term. Btc is starting to show additional slow down on our strength index's which could lead to another drop.
Also looking at our daily RSI BTC got rejected exactly at overbought conditions (70). If we cannot get above that 70 level in the short term it could lead us as low as the median (50).
BTC did get the rebound to our key level exactly as predicted. After finding sell pressure at the key level of 98.4k we are starting to see some initial warning signs form in the short term. Btc is starting to show additional slow down on our strength index's which could lead to another drop.
Also looking at our daily RSI BTC got rejected exactly at overbought conditions (70). If we cannot get above that 70 level in the short term it could lead us as low as the median (50).
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