Reasons why this is the temporary bottom:
-Bollinger band structure and previous bounces
-FIB 0.618 weekly chart
-Fresh sweep of liquidity at previous high in JANUARY
-RSI 30 and potential Bullish divergence
-RSI on 2D chart 50 (indicates support)
-Max Elon FUD and pain
Path for now:
-Chop around this zone
-Goes to 47.5K then retest previous zone around low 46K
-Then upwards to 49,5K making higher lows and higher highs.
From there:
Risk reduce
Rejection
Evaluation
-Bollinger band structure and previous bounces
-FIB 0.618 weekly chart
-Fresh sweep of liquidity at previous high in JANUARY
-RSI 30 and potential Bullish divergence
-RSI on 2D chart 50 (indicates support)
-Max Elon FUD and pain
Path for now:
-Chop around this zone
-Goes to 47.5K then retest previous zone around low 46K
-Then upwards to 49,5K making higher lows and higher highs.
From there:
Risk reduce
Rejection
Evaluation