Good evening, just a quick update in regards to what i posted yesterday, the bullish divergence on the RSI is still ongoing on the 4 hour time frame. I believe we are soon to see a correction in the down trend and maybe retest the $5,000/$6,000 level.
Looking on the RSI below you will see the trend line which i drew out yesterday, and the RSI bounce perfect off that trendline, with a lower price but higher low on the RSI, this is indicating some weakening of bearish momentum.
If we take a Fibonacci retracement and place it over the price action, we can see what sort of price we could potentially reach with a corrective wave back up towards the $5,000/$6,000 region.
Thanks for reading my quick update, upvotes and follows greatly appreciated!
==============================================================
Disclaimer: I am not a financial advisor and any of my content should not be taken as financial advice. The information and content provided is purely my own thoughts and intended for informational and entertainment purposes only. This is not investment advice. If you want to invest you should consider consulting with a professional beforehand.