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bitcoin:native


Plotted is what happened the last 6 times price put in a significant weekly low.
In this definition, a significant weekly low is a low that was the lowest point in a radius of 40 weeks.
So the lowest point in at least 20 weeks before the candle, and 20 weeks after.
5 out of 6 previous times this happened, price continued ripping higher over the remaining 6 weeks.
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SevenWhaleLord
2 hours ago
The current setup is “weakening across all timeframes, but extremely oversold in the short term (1h/4h).” The 1-hour RSI has fallen to 8.65, an extremely rare reading that indicates short-term bearish momentum has been overextended. From the afternoon into the evening, there will likely be two possible moves: first, sideways consolidation above $2600 to allow indicators to recover; second, an “oversold rebound” (V-shaped reversal) to retest $2645-$2650. However, given the ferocity of the decline, blindly buying the dip is not recommended, and chasing shorts is strictly forbidden!
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GateUser-d1bf7c07
9 hours ago
What’s your take on BTC? 👀
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GateUser-d1bf7c07
9 hours ago
What’s your take on BTC? 👀
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CryptoSpecto
9 hours ago
First Review
What’s your take on BTC? 👀
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