Bear flag, wait for the second RSI dip to see the bottom
A bear flag has formed and further drop in price can be expected (to $2100-2600 range). This drop of price will create another dip for RSI. If that dip is the same or slightly higher than the first dip, this will be the confirmation that the bottom and the price will rise to 50EMA from there on. The test of RSI dip is required. It was also observed in January 2015 before the long bull market started. This is not a trading advice, DYOR before investing..
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End of March or middle of April, we can expect the second dip of RSI that will mark the start of the new bull market.
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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.