lingering at 66 thousand dollars BTC These days it fluctuates only depending on the Iranian agenda. The global adoption of crypto as the new asset class has disrupted the structures that legacy investors were accustomed to, and this disruption will not be reversed. Alright in cryptocurrencies What’s the next step? What awaits investors?
How many dollars is Bitcoin?
Roman Trading, which has been writing about expecting a decline for more than 6 months and announcing targets, has been proven right so far and has now shared its new target. If he’s right again Bitcoin We will run to deeper bottoms and see altcoins lose even more blood.
The analyst, who said that the volume weakness in the rise indicates a decline, was warning when BTC was above 70 thousand dollars. Now he’s right and Trump’s The statement that “the war will continue” may cause the price to drop to the range of 55,000 to 51 thousand dollars.
“The situation looks good. As we predicted, it is a clear and clean retreat. We expect a decline just like we saw in January. Everything on this chart points to a downward trend.”
Where we should look on the chart
in decline for a long time of Bitcoin At some point he has to take a break from this. Huge long positions have been liquidated for months and short sellers have always won. “If it’s not going to fall forever, the RSI will warn us,” says Jelle. Looking at the weekly RSI, the analyst says that we need to look at the RSI to understand the formation process of the bear bottom.
“Unless BTC plans to continue falling indefinitely, it will eventually form a higher low on the weekly RSI. When this happens, the bear market bottom will begin to form or has already formed.”
“This is one of the primary signals I follow to know when I need to pay attention again.”
The analyst with the pseudonym Mustache wrote that it is positive that the 2021 ATH level has been held as support for several weeks. Those who look at the glass half full can find justifications, but BTC The news flow tells us that the direction is down.
“Did you know that BTC has been forming a support level above its 2021 all-time high for several weeks? Many people think the price will fall further, but the risk of missing the upward move is much higher.”
