Bitcoin has only tested the bottom support twice under $30,000… It has yet to revisit so I’m expecting a knock at the door soon lol….
Also you can see the 4HR RSI Trend is rising as the Trend on the chart is declining towards the “Support Zone”…
This Divergence I believe will be the reason price will continue to go down and cross the Daily Trendline and consolidate in the “Support Zone” before there is any support to push price back up…
I feel price will struggle under the Daily RSI Trend(Green Line) before it breaks out into another Bullish run. Also the 200 MA sits right below the “Support Zone” on the Weekly Chart. It’s around $20,000 and I don’t think Bitcoin will dip that low that fast which is the reason I stated Consolidation will happen in the “Support Zone” until the 200 Moving Average catches up and hopefully can push price back up as well…
Also you can see the 4HR RSI Trend is rising as the Trend on the chart is declining towards the “Support Zone”…
This Divergence I believe will be the reason price will continue to go down and cross the Daily Trendline and consolidate in the “Support Zone” before there is any support to push price back up…
I feel price will struggle under the Daily RSI Trend(Green Line) before it breaks out into another Bullish run. Also the 200 MA sits right below the “Support Zone” on the Weekly Chart. It’s around $20,000 and I don’t think Bitcoin will dip that low that fast which is the reason I stated Consolidation will happen in the “Support Zone” until the 200 Moving Average catches up and hopefully can push price back up as well…