RSI is close to over sold. Weekly candle is sitting just above the 200 weekly MA. The candle is not ideal though if Bitcoin can find support at 200 MA it can possibly bounce from here. Could also see a close above 200 weekly MA followed by large drop below the 200 weekly early next week then a another close above the 200 weekly MA. These large short term swings is part of why I prefer the weekly chart over using the daily chart. The week can be flat with people panic buying and selling every other day all week long.
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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.