Today I am bringing you a quick BTCUSDT analysis.
See the previous Idea.
We had some intense sell pressure, likely due to the FED announcements. MACD suggests sell pressure can continue, but we are mindful That bulls have the advantage at this time. Looking at the RSI, the sell-off might continue going into the weekly close. The RSI is oversold and can stay that way. There is a possibility to buy @ lower prices(BTC price is currently $43,541 per).
Bearish scenario (red squiggly line)
Support seems strong. However, we can continue to slide as the bands expand. The upcoming months will be crucial for Bitcoin.
Bullish scenario(Green squiggly line)
We can range for the next few days before a breakout. Bitcoin's actual test as a store of value will soon approach us.
Play safe.
Best Wishes,
HONEYITSGONE!
See the previous Idea.
We had some intense sell pressure, likely due to the FED announcements. MACD suggests sell pressure can continue, but we are mindful That bulls have the advantage at this time. Looking at the RSI, the sell-off might continue going into the weekly close. The RSI is oversold and can stay that way. There is a possibility to buy @ lower prices(BTC price is currently $43,541 per).
Bearish scenario (red squiggly line)
Support seems strong. However, we can continue to slide as the bands expand. The upcoming months will be crucial for Bitcoin.
Bullish scenario(Green squiggly line)
We can range for the next few days before a breakout. Bitcoin's actual test as a store of value will soon approach us.
Play safe.
Best Wishes,
HONEYITSGONE!
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