BTC Daily Update 20 May 2021
Based on BTC daily chart, it had a major crash yesterday but it touches around 30k and recovered to 40k instantly. Large volume reversing more than half of the big red candle.
BTC touches .382 fib level around 30k and bounces back to .5 fib level at around 37k.
In the short term, there are two resistance in this fib level and BTC will touch these resistance in the coming days or weeks.
BTC is likely to recover from its dip by now.
RSI indicates that BTC is currently extremely oversold. In the history of BTC, every time it had this RSI indication, price of BTC always rallied for at least 30% to the upside. I expect BTC to rally the same way too.
BTC touches .382 fib level around 30k and bounces back to .5 fib level at around 37k.
In the short term, there are two resistance in this fib level and BTC will touch these resistance in the coming days or weeks.
BTC is likely to recover from its dip by now.
RSI indicates that BTC is currently extremely oversold. In the history of BTC, every time it had this RSI indication, price of BTC always rallied for at least 30% to the upside. I expect BTC to rally the same way too.
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