this is how support levels work and at the bottom you'll see how an "oversold" RSI works
One doesn't simply dip without bouncing the 100-day MA. At least for now.
BTC 4h. Textbook relief bounce at the 100-day MA and recovery of the 50 RSI opening the path to retest the 73k ATH.
#Bitcoin
Scenario 1 it is.
It's Monday so here's today's outlook.
Bitcoin has been hoovering the 50 RSI (bottom) for the entire weekend. We did get the dip to 66.5k range (see last update) but bounced and therefore we didn't revisit the 64k range. Atm we're facing a crossover of the 7- and 25-day moving average while the sideways move over the weekend has pulled the 100-day MAup to the 66.5k support range.
Scenario 1: The 7/25 MA crossover succeeds and Bitcoin will aim to retest the 1 FIB / new ATH at 73k. Breaking that level AND finding support above 73k would open the road to the 88k range.
Scenario 2: The crossover fails, we revisit 66.5k range for support and, if support gets confirmed we'll then test the recent ATH for resistance.
Whichever comes first. Stack sats while we're still within the established channels.
#Bitcoin
Yeah, I thought we'd see 51k during the last dip since it's a solid FIB level but we came short. 50 range "one more time" would be a blessing.
Let's keep it simple. to levels to stack some cheaper sats. enjoy #Bitcoin
1,2,3... then 🚀. So much for "all models are broken". enjoy the ride
This week's recap, BTC 4h.
After a bullish week Bitcoin has finally set a "higher high" since following the declining trend from the ATH. We're closing the week with a strong rejection in the $66,500 rang. Since it's Friday we might see a little relief from signalling overbought across the board.
Expected support levels are 64k and 62k respectively on the bearish side. For the bulls we want to see a move above 65k but hopefully with a pullback first to take pressure of the market.
Disclaimer: The longs from 57k and 61k got closed last night with a re-entry floating at $66,805 in case we do not get said relief over the weekend.
Only a few will understand the beauty in this. The most accurate FIB level float I've ever seen. 
Fib bounce for BTC is sending a bullish signal. However, Bitcoin still has to retake the 50 RSI (bottom) and cross the 25/100-day moving average (top). If we can hold 61k the next days should be bright. If we don't then $51k is back on the table, again.
Decision time for BTC. Retake the Fibonacci to signal a trend change or get rejected and continue to the path to 51k. Happy weekend.
... and just like that the 0.618 FIB doesn't look so far fetched any more. Enjoy the ride. #Bitcoin
GM $51k gang. #Bitcoin
Bitcoin in a nutshell. 4h, lower highs, lower lows, bearish af. We've been rejected trice at the 50 RSI over the last week and the declining trend line speaks for itself. However, with the FIB support around 61k we're coming to the end of the wedge. If Bitcoin bounces the 61k range again we could see a trend change evolving over the next couple of days. If Bitcoin loses the 61k support the 0.618 FIB comes back to the table sitting at 51k.
End of month incoming, stack sacks and be happy!
hello nostrix