🔥 Bitcoin Bottom Might Be Near! Bull-Market Continued 🚀
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In this analysis I want to discuss the possibility that Bitcoin's temporary correction might be at the ending stages and that the bullish trend might continue in the near future.
I want to look at two things:
- The price has hit the purple dotted support on the chart.
- The RSI has hit oversold on the 4H chart for the first time since late January, at the start of the bull-run that took us from 39k > 74k.
These two factors combined make me believe that a bottom is potentially near and that we can make a decent trade off this area. Target at 80k, stop below the March 5th dump, to create a good trade with a RR of exactly 5.
I want to look at two things:
- The price has hit the purple dotted support on the chart.
- The RSI has hit oversold on the 4H chart for the first time since late January, at the start of the bull-run that took us from 39k > 74k.
These two factors combined make me believe that a bottom is potentially near and that we can make a decent trade off this area. Target at 80k, stop below the March 5th dump, to create a good trade with a RR of exactly 5.
Nota
Perfect reversal from the lineair chart. Entry hit and currently in profit.Nota
🚀Nota
Trade still active, playing out well.Nota
Long-term update
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