#BTCUPDATE - 14.5.21
The Neuralyzer - it's funny how a bounce can instantly erase the memory of the past 24 hours.
It is very much looking like we have found the bottom. Focusing on the Daily timeframe today to see the bigger picture - a big bullish Cypher printed, on top of a very bullish Divergence (with essentially a double bottom too.
From the Alpha suite we are see a heavily oversold RSI with a volume breakout occurring. Fundamentally we are seeing some back tracking from Musk on BTC and there will be a lot of rallying now around BTC to buy the dip.
We were about 1 news drop away from a black swan event but it seems to have built some foundation here.
$51,2k is the first target to get above to confirm a good direction. Very high expectations for $62k if we can get out of this mess.
Don't over commit just yet but there should be a lot of dip buys still hanging around to take advantage of.
The Neuralyzer - it's funny how a bounce can instantly erase the memory of the past 24 hours.
It is very much looking like we have found the bottom. Focusing on the Daily timeframe today to see the bigger picture - a big bullish Cypher printed, on top of a very bullish Divergence (with essentially a double bottom too.
From the Alpha suite we are see a heavily oversold RSI with a volume breakout occurring. Fundamentally we are seeing some back tracking from Musk on BTC and there will be a lot of rallying now around BTC to buy the dip.
We were about 1 news drop away from a black swan event but it seems to have built some foundation here.
$51,2k is the first target to get above to confirm a good direction. Very high expectations for $62k if we can get out of this mess.
Don't over commit just yet but there should be a lot of dip buys still hanging around to take advantage of.
