Bitcoin moves fast and I am now seeing evidence it reached a near-term bottom and is becoming likely to bounce. The 34 Day EMA on the 1 Day chart has served as a reliable indicator of a bottom. Since the bull market returned, $BTC barley crosses the 34 Day EMA and never for very long before a bounce.
In addition, a long held belief in Bitcoin is an RSI at or below 50 on the 1 Day chart is a good buy signal. $BTC rarely comes near 50 RSI and when it does, it bounces. Bitcoin is sitting at 50.06 RSI as I am writing this.
This morning Bitcoin looked likely to fall and it fell. It now looks likely to bounce.
In addition, a long held belief in Bitcoin is an RSI at or below 50 on the 1 Day chart is a good buy signal. $BTC rarely comes near 50 RSI and when it does, it bounces. Bitcoin is sitting at 50.06 RSI as I am writing this.
This morning Bitcoin looked likely to fall and it fell. It now looks likely to bounce.