Hi @everyone, so here is my thoughts on BTC today ( July 31, 2021 @ 11:43AM )
- The price of BTC is still in range, currently at the resistance level, if this break the 41k resistance level, we might see a push to the down side, but that doesn't convince me for a bull market recovery as I still need to see a breakout to the upside from 50k level.
- Looking at the RSI, I'm seeing a bearish divergence here for a possible bounce from 41k to the down side.
- It can breakout but if we still see a bearish divergence, it can still lead to a fake out.
- To confirm the bearish divergence, we need to see a failure of making another HH and that can confirm a further move to the down side.
Personally, still not convinced. Haha.
That's it guys! Take care! NFA, DYOR and TAYOR.
- The price of BTC is still in range, currently at the resistance level, if this break the 41k resistance level, we might see a push to the down side, but that doesn't convince me for a bull market recovery as I still need to see a breakout to the upside from 50k level.
- Looking at the RSI, I'm seeing a bearish divergence here for a possible bounce from 41k to the down side.
- It can breakout but if we still see a bearish divergence, it can still lead to a fake out.
- To confirm the bearish divergence, we need to see a failure of making another HH and that can confirm a further move to the down side.
Personally, still not convinced. Haha.
That's it guys! Take care! NFA, DYOR and TAYOR.