Did Weekly RSI touched the botton?
Updated
Time is against the bears, they are losing strength. The longer we stay on those levels, the less likely we are to find a new botton.
It is possible that BTC has already touched the botton in the weekly RSI in JUN-2018. (70% -30%).
The last time this happened (JAN-2015) the BTC walked sideways until breaking a major resistance (NOV-2015) and start a bull run.
If this is confirmed, we will walk sideways until we break the resistance of the 11k (ish), which may be in late 2018 or early 2019.
Note
RSI is increasing.Weekly MACD is turning positive.
Weekly MA20 is 7100 ( 0.786 fib)
and Day MA20 is 6740 ( 0.5 fib)
This idea is still super active!!!
Trade active
Weekly RSI is making higher lows!!This is a good sign that this point in the chart (JUNE 2018 - RSI at 41,35) was the botton;
Today (November 06), weekly RSI is at 45,42 and increasing;
After we reached the RSI botton in 2014, the price of BTC consolidated and the RSI made higher lows as we we are doing now
Idea is active, we need a jump to initiate a bull run!!
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