As ive said in past analysis, bitcoin needs a price correction. and we still haven't had one. But today the price has gone up almost $100. As you can see this jump did put the RSI into the overbought zone. And as of right now where it stands the MACD is also showing bearish signs. How far it will drop is probably only down to 5400. but if the bears rally we could have an upward of a 30% drop here in the next couple of days.
To the contrary we could also see some more price rise before it drops since we did close above the first major resistance of 5600. So this could now turn into a support level.
like always leave a like if you agree or if you disagree leave a comment so we can have a good conversation.
To the contrary we could also see some more price rise before it drops since we did close above the first major resistance of 5600. So this could now turn into a support level.
like always leave a like if you agree or if you disagree leave a comment so we can have a good conversation.
