Bitcoin Oversold (RSI Lowest since 2015)

Bitcoin’ RSI indicator has hit its lowest level since 2015.

Bitcoin’ is also oversold on the weekly time frame, this is a very strong signal.

You can see support levels on the chart, these are relevant now.

Lots of good can develop from here, it is good to have this drop. Bitcoin’ stalled since February, this is surely going to bring some action into the market. Action, is what we want.

TIME TO BUY BITCOIN’

Thanks a lot for reading.

Namaste.
P.S. This is no trade advice.

Note

Divergence building up already... TIME TO BUY:

Note

These are just signals. They do not mean that the price will move up or down, but they can help you determine what might come next... It is still for the market to decide.

We see divergence on the RSI.. ??
Yes. It is there.

We are oversold... Yes, easy to spot!

Will the price go up?
Please allow time for the chart to develop.

Support (green lines).
Resistance (EMA lines - magenta, blue, yellow).

- If support holds, price consolidate and tries the next resistance (up).
- If support breaks, we test next support (down).
- This same process repeats up and down... down and up.

Pretty easy... Enjoy your day.

Namaste.

Note

Take a look at our altcoins trades, some are starting to detach completely from Bitcoin, this is an interesting and positive development for the altcoins:

XRPBTC

BTGBTC

XLMBTC

XSTBTC

Note

We are almost there:

Note

And we are bouncing now with good volume:

Note

The Bitcoin is on the lower end of the Bollinger Bands both on the daily and weekly time frames, this points to a coming bounce:

Note

"BREAKING: In a new notice, ICE Futures U.S., Inc. says it will list the Bakkt Bitcoin (USD) Daily Futures Contract on January 24 of next year. (link: ow.ly/u9Vy30mGMqP) ow.ly/u9Vy30mGMqP "

mobile.twitter.com/coindesk/status/1064928505136336902?s=19

Note

EMA200 is our strong support, sitting around $4194, yellow line on the chart:

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