The Trendline from October seems to have fend off further losses in BTC by holding strong for the last 5 days. RSI is still in heavy oversold territory, with no indication yet that the drop/correction/crash (whatever you want to call it) is over. If the week close above this line, that's check 1. Daily close above 42000 (The 100% expansion off the high), check 2. Daily RSI above 40, check 3. Three checks needed for a play.....
Ps. imho with the type of investor that is holding BTC... any insignificant catalyst (like another bad tweet, more negative news, more threats from legislative organizations) could send this spiraling further downwards. Trade with CAUTION!!
Ps. imho with the type of investor that is holding BTC... any insignificant catalyst (like another bad tweet, more negative news, more threats from legislative organizations) could send this spiraling further downwards. Trade with CAUTION!!
