Bitcoin to see an Oversold Correction.
The price of Bitcoin is currently located, stuck at the lower channel line.
RSI is suggesting a significant exagerrated bullish divergence to play out, pointing towards a correction to the upside. I believe this signal alone is confident enough to bring a correction to the upside.
MACD is way too oversold, asking for a correction higher.
The price is also a bit far away from EMA's, pointing towards a correction or at least limited losses.
The trend of lower highs is located at $36500 with daily EMA at $37000, I look to take profit slightly below $36500.
In overall I look for Bitcoin to break below $30000, where I am looking to buy dips at $25000 area, but I look for an oversold correction to happen before that as RSI suggests.
Good luck!
RSI is suggesting a significant exagerrated bullish divergence to play out, pointing towards a correction to the upside. I believe this signal alone is confident enough to bring a correction to the upside.
MACD is way too oversold, asking for a correction higher.
The price is also a bit far away from EMA's, pointing towards a correction or at least limited losses.
The trend of lower highs is located at $36500 with daily EMA at $37000, I look to take profit slightly below $36500.
In overall I look for Bitcoin to break below $30000, where I am looking to buy dips at $25000 area, but I look for an oversold correction to happen before that as RSI suggests.
Good luck!
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