BTC has been range bound ever since the May 19th crash. Since last week we have broken out of a Wedge and fell into a descending channel and are currently retesting the support line of the channel and very close to the bottom range of support. If this support holds strong we should have a break upward sooner then later. if we break below these support levels which are at 32k and 31k, we could be seeing a 20-25k in the near future. The RSI is already and has been oversold, and the fear and greed index point to mass fear which is usually signs of reversals. However, anything can happen. Best of luck to everyone!!!
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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.