BTC Daily Update 24 May 2021
Based on BTC daily chart, although it dips hard, but it created a higher low and is holding strong above the .5 fib level.
BTC is testing its downtrend resistance currently and a green candle closed out of the downtrend resistance at 36.6k may be a good sign of a reversal trend.
If BTC is rejected from its downtrend resistance, we may see a retest of support at around 34k.
RSI indicating BTC is currently oversold and may reverse once there is more strength shown in the chart.
BTC is testing its downtrend resistance currently and a green candle closed out of the downtrend resistance at 36.6k may be a good sign of a reversal trend.
If BTC is rejected from its downtrend resistance, we may see a retest of support at around 34k.
RSI indicating BTC is currently oversold and may reverse once there is more strength shown in the chart.
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