Since early December, Bitcoin is trading in a bearishg channel. With a recent touch of the channel, there's a decent chance that we're going to reverse from the channel's support towards the top of the pattern.
To further strenghten the reversal, the 1H RSI has reached a severly oversold level of around 24. These two facts combined make for a good short-term bullish reversal case.
Target for the reversal would be the area around the top of the channel.
Happy trading!
To further strenghten the reversal, the 1H RSI has reached a severly oversold level of around 24. These two facts combined make for a good short-term bullish reversal case.
Target for the reversal would be the area around the top of the channel.
Happy trading!
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