🔥 Bitcoin Correcting As Expected: Reversal Area Located
Recently I've made a couple of analyses on Bitcoin where I mentioned that we we're severely overbought and that a correction was due at some point in the future. What we're now seeing is the first correction of the year after a massive bull move.
As mentioned in my previous analysis, investor's reaction to the 4H RSI reaching oversold is key. We're still in oversold territory, so there's a decent probability we're going lower.
I'm looking at the yellow area for a potential reversal. If we're going to fall below $20.500 in the near future, I'd see that as a strong bearish confirmation for reversal.
I'm still bullish, but I also agree that we need to cool down. In case of a reversal, I'm looking at the blue targets for potential short-term targets.
As mentioned in my previous analysis, investor's reaction to the 4H RSI reaching oversold is key. We're still in oversold territory, so there's a decent probability we're going lower.
I'm looking at the yellow area for a potential reversal. If we're going to fall below $20.500 in the near future, I'd see that as a strong bearish confirmation for reversal.
I'm still bullish, but I also agree that we need to cool down. In case of a reversal, I'm looking at the blue targets for potential short-term targets.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.