We are still in this slump that is Bitcoin
. We have a sharp channel downward with a hard confirmed downtrend going on. I have the next line of support around 7.9k, and we may see this at the rate we are going. RSI
is dropping though starting to slow its decline a bit. I do have some optimism here looking at my bollinger bands
. We have been riding the lower band the last few days with a slight break outside of it, but the candle did not close. If and when we have a close outside this band, that's a good sign of a reversal. If there is no close beyond the lower band, we will probably see the support line.