RSI & EMA
If older chart patterns serve as an indicator to predict future movements, we can observe that the price approaches a zone that in previous movements served as an indicator for trend reversal.
We're very close to a reversal move, however, we can still see more selling pressure.
Since the rsi touches the bear upper zone until it reaches the bear lower zone, the price always drops a little more than 45% and this brings the price of bitcoin close to 24k.
The lower line of the bear lower zone, which has guided us so far to the end of the bearmarket, is currently around $25,500.
Some external factors can influence the price, do not take my analysis for granted.
If older chart patterns serve as an indicator to predict future movements, we can observe that the price approaches a zone that in previous movements served as an indicator for trend reversal.
We're very close to a reversal move, however, we can still see more selling pressure.
Since the rsi touches the bear upper zone until it reaches the bear lower zone, the price always drops a little more than 45% and this brings the price of bitcoin close to 24k.
The lower line of the bear lower zone, which has guided us so far to the end of the bearmarket, is currently around $25,500.
Some external factors can influence the price, do not take my analysis for granted.