Bitcoin update!!!!!

in #btc5 years ago


There Has Been a Lot of Talking Going On Since BTC Broke 4650 Support

Some are Saying it Should Come to 3500 USD
& Some are Saying Even 3000 USD Can Be Seen

Here are Our 2 Cents on BITCOIN Upcoming Moves

First Thing First Why from 4000 Zone We Are Expecting Reversal...??

OK, Here is The Deal
We Saw BTC Touched 4000 Levels 2 Times in Last 4-5 Days

1 is When The Massive Sell-Off Happened and All The Weak Hands/ Panic Sellers Sold Off The Price of BTC Hit an all Time New Low of 2018 4030 Levels (Coinbase Rate)

2 is When The BAKKT Delay News Came Out We Have Seen Massive Dips Again Till The 4000 Levels

This Clearly Tells us That 4000 USD is The Level, Where People Buying a Lot so Price is Showing Reversal
and 4K is One of The Strongest Supports as Well as Psychological Support

Another Thing to Keep in Mind That BITCOIN Miners are Already Making Lot of Losses Due to This Heavy Dip, So That Can Tell If Price Goes Down to 3000 Levels Where will They Go, Will They Stop Mining...??

Now Let's Come To The Chart Analysis

  1. RSI: Did You Know BITCOIN's Daily and Monthly RSI is Already Breaking All-Time Lows, The Daily RSI is in Crazy Crazy OverSold Zone Guys

If You Can Read Charts Then Plz Have a Look at BTC/USD 1D Charts RSI
You Will Understand

The Daily RSI Never Broke Below 20
But This Time it Went All The Way Down to 9
Which is Definitely Crazy OverSold 😭

$4000 is The Support Where We Say It Can See Reversal
But Worst to Worst Case Scenario We Might See a Wick on The Daily Charts up to $3650 Levels

But That's The Worst Case Scenario (Not Expecting That to Happen)

BITCOIN has a History itself To Drop Drastically That Nobody would Expect and Then Make a New Move and That Move Becomes a Massive One. That Too Nobody Would Expect When is The Actual Time for BTC Pump 😅

**Disclaimer: Nobody is Perfect, Yes Nobody, Not Even TOP Professional Traders are 100% Perfect When it Comes to Analysing BITCOIN, Bottom or Even Top, BITCOIN Does it's Own Kinda Thing and Makes Everyone Flabbergasted.


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