Hello everyone,
the price of Bitcoin (BTCUSD) went through a sharp decline after touching our local resistance at $13.800.
We have some big sell walls spreaded on a few exchanges and we are not ready to break them (yet).
The RSI (Relative Strength Index) has left the overbought territory and confirms the upcoming short-term correction.
Please focus on buy signals during a clear uptrend.
We can use the Fiobnacci Retracement tool to spot possible entries in anticipation for the next leg-up.
I don't expect a deep correction with the strength of the trend and the bullish news surrounding Bitcoin - therefore i have my buy orders set at the following levels
Entry 1: $12.350
Entry 2: $11.450
cheers,
cryptobuller