Bonjour les amis,
Based on past historical,
BTCUSD
repeatedly makes bull reversals after sub-30.00 drops on the RSI.
BTC may have a tough time breaching the strong support zone of $6,576-$6,600 at a time when the RSI is nearing a bull reversal zone. However it's still too early to call a bull reversal, as the momentum studies are still bear biased.
A daily close above $9,177 would open the doors for a test of a major resistance at $11,700
Only a break above $11,700 would bring a significant bull run
On the downside, acceptance below $6,000 (multiple daily closes below the said level) would signal a continuation of the sell-off
Based on past historical,
BTCUSD
repeatedly makes bull reversals after sub-30.00 drops on the RSI. BTC may have a tough time breaching the strong support zone of $6,576-$6,600 at a time when the RSI is nearing a bull reversal zone. However it's still too early to call a bull reversal, as the momentum studies are still bear biased.
A daily close above $9,177 would open the doors for a test of a major resistance at $11,700
Only a break above $11,700 would bring a significant bull run
On the downside, acceptance below $6,000 (multiple daily closes below the said level) would signal a continuation of the sell-off