BTC Needs to close above the 100dayMA in order to find support and reverse this trend. The daily RSI is creeping into the lower digits which historically we got a bounce and reversal when it his about 30 rsi. This was on the 14th September.
There is still a lot of BEAR volume on this pull back so we could test the support in zones B and C.
I think we will test B which will lead to the Daily RSI being oversold and then we will get a strong bounce.. Lets See :)
Keep an eye on the Daily RSI level and look for a reversal when we get into the 30 approx range.
:)
Stay cool and hold.. You lose when you sell and this market has only gotten started in my view.. There are people queuing up to get onto exchanges still.
BTC has had a massive run up last year and was due a pull back.. Smart investors do NOT invest into Overbought RSI levels on weekly/Daily charts.. Its no coincidence that Gold and Silver are doing great as BTC is pulling back..
That money will be back in my opinion and more than likely when the rsi gets into the 30% levels.. Watch and Wait and Hold :)
There is still a lot of BEAR volume on this pull back so we could test the support in zones B and C.
I think we will test B which will lead to the Daily RSI being oversold and then we will get a strong bounce.. Lets See :)
Keep an eye on the Daily RSI level and look for a reversal when we get into the 30 approx range.
:)
Stay cool and hold.. You lose when you sell and this market has only gotten started in my view.. There are people queuing up to get onto exchanges still.
BTC has had a massive run up last year and was due a pull back.. Smart investors do NOT invest into Overbought RSI levels on weekly/Daily charts.. Its no coincidence that Gold and Silver are doing great as BTC is pulling back..
That money will be back in my opinion and more than likely when the rsi gets into the 30% levels.. Watch and Wait and Hold :)
