Friends, since 23Jan24 btc has retraced nearly 50% (from 73.8k to 57k-58k) in the 1D interval which also coincides with the EMA100. That said, RSI has also (hopefully) bottomed. The question is, has btc found the local bottom with sufficient support as we move forward into the re-accumulation period before we experience parabola? If support does not hold we will likely find concrete footing around 52k (61.8% Fibonacci) which also coincides with the EMA200. I am quietly confident that will be the absolute bottom before re-accumulation and parabola.
Compared to the 12H that I just published, the RSI in both stances is cautiously bottomed. Fingers crossed.
Compared to the 12H that I just published, the RSI in both stances is cautiously bottomed. Fingers crossed.