Why we are at the bottom (if no big sell off by "weak hands")
At 27026.1 we can see RSI dropping down with price dropping to 26563.5$.
That’s also level on the volume where it started to rise again.
27.12 is the day with higher volume where the price gets to a certain level and people started to sell because probably didn’t believe we could go higher.
3.September, the date where we get into oversold territory
11. December - People with insider info starting to buy? There is almost no volume, but strength is building.
16 December - More people with „insider info“ because volume started to rise
23 December was some news out? Or people get „Christmas gifts money“ where they spend it. Even more news. More shilling people hopping in.
22. Feb - first sign we could be at the top
More believers we could go higher.
14. April - people earned a lot, the strength was already falling
19 May - People realizing there can be bear market
I’m expecting just wicks. Late shorters to push price just with wicks into 26500k area, maybe (depends on the strength) to 22k.
I think in next week we will find a resolution if bulls have the strength and will, to buy at those levels (26.5k) if not we can visit more lows.
That’s also level on the volume where it started to rise again.
27.12 is the day with higher volume where the price gets to a certain level and people started to sell because probably didn’t believe we could go higher.
3.September, the date where we get into oversold territory
11. December - People with insider info starting to buy? There is almost no volume, but strength is building.
16 December - More people with „insider info“ because volume started to rise
23 December was some news out? Or people get „Christmas gifts money“ where they spend it. Even more news. More shilling people hopping in.
22. Feb - first sign we could be at the top
More believers we could go higher.
14. April - people earned a lot, the strength was already falling
19 May - People realizing there can be bear market
I’m expecting just wicks. Late shorters to push price just with wicks into 26500k area, maybe (depends on the strength) to 22k.
I think in next week we will find a resolution if bulls have the strength and will, to buy at those levels (26.5k) if not we can visit more lows.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.