Bitcoin Short Term Bottom Coming
Looking at the indicators that I use and the chart for Bitcoin I am still bearish and don't think the bottom is in. However I expect some kind of bounce of the $210-200 level. There are a few reason for this but the main ones are the RSI i s nearing resistance on the multi month trendline down. Also MACD is extremely oversold and there is a pocket on the volume profile that might need to be touched around $250. I would not be surprised if we touch 250 and get rejected.
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.