Since 2011 to 2018 we went once below Weekly RSi of 45.
We had a bear market of 300 days once we drop below(August 2014 to July 2015 Bear Market).
Also the price of 6900-7100$ lies the 200 days simple moving average ( on the daily chart) also Horizontal support since the bull run.
i have it drawed on some of my other published Posts.
I think its very important for you guys to take a closer look at this, im slowly turning bullish from here. Not saying it cant drop to 5500-6000$ but I have no interest to find the perfect bottom.
We had a bear market of 300 days once we drop below(August 2014 to July 2015 Bear Market).
Also the price of 6900-7100$ lies the 200 days simple moving average ( on the daily chart) also Horizontal support since the bull run.
i have it drawed on some of my other published Posts.
I think its very important for you guys to take a closer look at this, im slowly turning bullish from here. Not saying it cant drop to 5500-6000$ but I have no interest to find the perfect bottom.
THere is a channel between 6300$ - 9000$ forming, we can swing trade along these prices.
For me to turn bearish the price has to go below 7700$, to turn bullish btc has to up towards 11500 and break the strong resistance with volume.
otherwhise i just swing trade in channel area.
cheers