$BTC: THE UPDATE
HELLO GUYS:
#Bitcoin rebounded from 39600 as I mentioned yesterday, but I believe that this bounce is a speculative bounce and not the end of the decline.
- What makes me think that is the study of the #RSI movement in the last 6 months and how the price reacted to it.
-We have formed a rising wedge three times in #RSI, and each time the price was showing the same reaction and consistent with its movement.
-We are now in the middle of the third time, RSI has breached the rising wedge support, and it seems that it is destined for a retest, and the price is moving with it with a similar movement.
-#Bitcoin may rise to 42200, but will fall back to 37000.
-This remains a guess based on 6-month price action ..not investment advice.
#Bitcoin rebounded from 39600 as I mentioned yesterday, but I believe that this bounce is a speculative bounce and not the end of the decline.
- What makes me think that is the study of the #RSI movement in the last 6 months and how the price reacted to it.
-We have formed a rising wedge three times in #RSI, and each time the price was showing the same reaction and consistent with its movement.
-We are now in the middle of the third time, RSI has breached the rising wedge support, and it seems that it is destined for a retest, and the price is moving with it with a similar movement.
-#Bitcoin may rise to 42200, but will fall back to 37000.
-This remains a guess based on 6-month price action ..not investment advice.
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