BTC Daily Update 8 June 2021
Based on BTC daily chart, it had broke out of its bearish pennant and currently a retest of its previous support turned resistance. If it is unable to break back above the support, a retracement target of around 24k will occur.
Stochastic RSI indicating BTC is still in the midst of the retracement. Buying into position is not advisable as this is not a confirmed bottom because historically it will touch Stoch RSI of around 0.32 before it bounce up and have another leg up.
Right now it is best to wait for swing trader or dollar cost average for long term hodler.
Stochastic RSI indicating BTC is still in the midst of the retracement. Buying into position is not advisable as this is not a confirmed bottom because historically it will touch Stoch RSI of around 0.32 before it bounce up and have another leg up.
Right now it is best to wait for swing trader or dollar cost average for long term hodler.
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