Bitcoin Continues To Fall - Bounce Could Be Coming Soon...
The Bitcoin price has continued to slide today, and it seems to be taking a lot of the market along with it too...
Right this minute, 2 key things are happening.
The first, is that a key support level is currently being tested:
https://www.tradingview.com/x/TPQOWyKu/
4 Hour Chart
The second, is that the RSI on my 4 hour chart is getting oversold.
I think both these things could give BTC a bounce in the shorter term.
Correction Over?
I'm not saying the correction is over, we'd need to more bullish indicators on the MACD and RSI to say that, but that's what is happening right now.
If that support level holds it will be a piece of very positive news!
If it doesn't? The 0.78 Fibonacci level could be tested, and prices might drop further....
We'll see what happens! Buckle up, the ride ain't over yet. :-)