I have decided to continue Bitcoin analysis. Price indicates continues drop (based on Momentum).
RSI indicates downtrend. If price break trough support level, then we can expect price reach first target (around 11,000). Pat attention to second important level – 11,000. If price gain momentum then we can expect price to reach second target. Currently, RSI showing weak momentum to the upper-side. In other side of this equation, if RSI break resistance level then we can expect rise of the momentum and price should price resistance level and should reach level: 15,462 – 16,000. At this time should refrain from trading until we get clear signal.
Cheers,
Jim
RSI indicates downtrend. If price break trough support level, then we can expect price reach first target (around 11,000). Pat attention to second important level – 11,000. If price gain momentum then we can expect price to reach second target. Currently, RSI showing weak momentum to the upper-side. In other side of this equation, if RSI break resistance level then we can expect rise of the momentum and price should price resistance level and should reach level: 15,462 – 16,000. At this time should refrain from trading until we get clear signal.
Cheers,
Jim